Selling Copiers & MFP's "The Tax Man Cometh"

I really, really hate this time of year, usually after the first of the year we'll start seeing the commercials for H&R Block, Hewitt, and Turbo Tax. This year started early, a week before Christmas I started seeing the tax adds! OMG, please no more reminders!!

Over the years there's some years were I win (get cash back) and some years where I lose (gotta pay up). Since the Great Recession, I've been getting money back in the years prior to 08 to 03 I had to pay and pay and pay.

For those of us that get spiffs from manufacturers these all come with a price tag, and it's hefty if you haven't planned for the tax man. We forget about $150 here and $300 there and $50 here, and by the time you look at the statement, you're getting 1099'd for over $10,000!!!

There was one year in particular where I won a trip to Japan (on ricoh) and a super duper TV, surround sound, VCR, DVD, you name it and I got it (on ricoh), turns out I for 1099'd for all that stuff plus my spiff points, arrggh, I ended up owing a mid 4's to the feds.

So feel free to add to this discussion, but here's a few things that I do to maximize my take home pay (especially when it's commission time)and minimize my taxes.

First and Foremost:

I keep all and ask for all receipts, even if it's a cup of coffee

I keep an accurate mileage log to and from all accounts

Instead of going to the office for the thing in the AM, I'll scdedule an appointment or a stop in by the office, thus I can write of the milage to the account and not to the office

Samething with on the way home, pay a visit to a local account whenever you can

I'll buy lunch as often as I can

I run an office in the home which allows me to deduct for some supplies, phone calls, internet service

I join industry groups, allows me to write off the fee, a Premium P4P would count just like linkedin, although we're a lot cheaper than linkedin

I have a flat tax federal payroll deduction each pay period. I pay a little more when there is no comissions, however I don't get slammed with a big payday either

When I go to any trade shows, I'll also get to deduct all of those expenses also

Plus, I pay a professional to do my taxes

So, in the end. I would rather keep the extra cash instead of the Feds. It's kinda stupid that they take your tax money each week and then dole it back out to you at the end of the year with no interest, plus the feds have to bear the cost of sending the checks or money back to you.


Anyone else have any great tips?