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This guide is a tactical handbook summer sales reps can use to master their taxes from the start. Read on to avoid common mistakes that cost money and time.

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Who wrote this guide?

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1. Keep business and personal transactions separate

Don’t fall into the trap of thinking a summer sales gig isn’t a real business. The IRS says it is. Set yourself up right by separating your personal and business expenses.

→ Two bank accounts are better than one

1. Personal Account: This one’s for all your personal stuff. Pretty self-explanatory.
2. Business Account: This one’s for any expenses necessary to effectively do your job.

Having two bank accounts doesn’t just keep you organized, it can save you hours of work and massive headaches if the IRS ever audits you.

✨ Pro Tip #1: Business expenses need to be “ordinary and necessary” in order to be deductible. Don’t listen to advice saying you can write off everything. Actual business expenses for summer sales reps could include things like:

• Vehicle costs (gas, repairs, tolls, parking)
• Travel (flights, hotels, 50% of business meals)
• Phone and internet (only business use qualifies)
• Laptop, tablet, software, subscriptions (if used for business)
• Training, coaching, courses, conferences
• Supplies and equipment (printer, demo materials, uniforms)
• Business insurance

✨ Pro Tip #2: If you need good business bank account recommendations, here are my top 3:

1. Mercury (this is the one I use)
2. Novo
3. Relay