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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I am a consultant for a direct sales company. If I were to

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I am a consultant for a direct sales company. If I were to purchase product for my personal use only and for family at cost would I still need to file any kind of taxes? it would be a hobby but i would be making no profit?
Submitted: 6 years ago.
Category: Tax
Expert:  RD replied 6 years ago.

If you would purchase product for personal use than you do not pay income tax on such purchase. If you carry on a hobby - than gain would be taxable but loss wil not be deductible.


You do have to pay tax on the income from direct sales company as a consultant.




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