Worksheet For Network Marketing Businesses

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WORKSHEET FOR NETWORK MARKETING BUSINESSES
NAME __________________________________________________________________ YEAR _______
NETWORK MARKETING BUSINESS
INCOME
Amount
SALES REVENUE, FEES.
It is the taxpayer’s responsibility to track & report all sources of
income. This is the gross cash inflow from your clients or customers.
PRODUCT SAMPLES
Total amount spent on products which you used for demonstration
purposes for potential clients or distributors
ADVERTISING
Total amount spent on advertising your business, i.e.: newspaper
advertising, yellow pages, flyers, radio, holiday greeting cards, gift certificates to support
local community events, any media materials you pay to advertise your business.
MEALS & ENTERTAINMENT
Total dollars spent on schmoozing your clients for the past
year! i.e.: Tim’s, Starbucks, business lunches, dinners, hostess gifts purchased at the LCBO
for potential clients, etc. The key here is that you keep an accurate record of your
receipts with the potential clients name on the back of the receipt. The totals you submit
must be reasonable. Typically, you may be claiming $3,000 but only 50% of this total will
be deductible.
INSURANCE Total insurance paid for your business only. This does not include home or
auto.
INTEREST
Total for the year. This expense must be carefully documented and is only for
interest incurred on business debt (not personal debt or mortgages)
OFFICE EXPENSES
This is a catch all account and includes all miscellaneous expenses of the
business which don't fit in any other category.
ACCOUNTING & LEGAL FEES
Total legal and accounting fees paid
RENT/LEASING
Rent paid for office or warehouse space for the year.
SALARIES & BENEFITS
If you paid more than $750 to any one person you will have to issue
T4s.
PHONE/CELL
Include long distance used for the BUSINESS and if you have a dedicated line
include the rental charges.
TRAVEL
All travel expenses which are directly related to the business
CAPITAL EXPENDITURES
These are items that have a useful life of more than a year and
cost more than $250 (i.e. desks, computer etc)
BANK BALANCE AT YEAR END
Please provide a copy of your last month’s bank statement

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