- 3 -
Nunn was employed by Tech Solutions as a marketing representative
selling color printers and computer products. Mrs. Nunn was
employed as a claims adjuster for State Farm Mutual Insurance Co.
Petitioners reported total wages of $68,129 and $6,625 of Federal
income tax withheld.
Petitioners filed four separate Schedules C for the 1993
taxable year. The Schedules C were filed under the following
business names: (1) Professional Gift Services; (2) C&M
Distribution Co.; (3) the Nunn Mktgn Group; and (4) BCM
Enterprises. All four businesses were operated from petitioners’
residence.
The schedule below shows the gross receipts, returns and
allowances, cost of goods sold, and business expense deductions
reported for each Schedule C activity.
Professional C&M The Nunn
Gift & Distribution Mktgn BCM
Services Co. Group Enterprises
Income
Gross receipts $1,589 $755 $8,878 $2,239
Less: Returns and
allowances -- -- 1,407 338
Cost of goods sold 1,302 -- 6,979 1,232
Gross profit/income 287 755 492 669
Expenses
Advertising 175 928 434 333
Car & truck expense 497 1,088 737 792
Insurance -- 950 450 333
Legal & professional -- -- 225 275
Office expense 370 442 455 1,233
Rent or lease -- 242 -- 231
Repairs & maintenance -- 432 475 545
Supplies 265 393 247 187
Travel -- 879 220 379
Meals & entertainment1 188 910 1,390 702
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011