Hello,
I have a question about Mary Kay. For a Mary Kay business, when you are completing your Schedule C, is this business considered to have all investments at risk or some investment at risk? What are the rules for at-risk income as they apply to a business such as Mary Kay?
Thanks in advance for the help!
#1;I have a question about Mary Kay. For a Mary Kay business, when you are completing your Schedule C, is this business considered to have all investments at risk or some investment at risk?
#2;What are the rules for at-risk income as they apply to a business such as Mary Kay?
Thanks in advance for the help!
#1;as a sole owner filing sch C of 1040, you have unlimited liability. In other words, all of your personal and business assets are at risk. If the business debt begins to exceed the assets, creditors may obtain the personal assets of the owner to cover outstanding debt.