Whether you consider Mary Kay a business opportunity or not, the bottom line is you are self-employed which makes you responsible for your own federal, state, and local taxes, since you have no taxes withheld because you do not receive a "paycheck" from the Company.
If you end up owing IRS too - you can be be charged penalities and of course will owe what ever shortage. Each quarter I simply take one of my quarter coupons and send IRS, a check I do the same for state and local. (there are worksheets available to help you figure out your estimates based on what you are making)
My method is to put a certain amount weekly into a savings account and then once a quarter, write out and mail the checks.
When I was newer to Mary Kay and just dabbling, I was still working a fulltime job. To save myself, the added trouble of filing quarterly, I simply increase the amount I had withheld from my primary check, to make sure I was covered.
Getting into the habit of keeping the money there makes writing that check alot less painless.
Don't forget that the tax filing deadline is approaching fast so get your taxes done and don't forget to use every legal business expense possible.
For Further Reading...This Week On Pink Truth - Click Here
Pros and Cons of Mary Kay - Read or Contribute or Both!
First Post - Why I Started This Blog
The Article I Wrote For ScamTypes.com (here) (there)
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