As an Independent LifeVantage Distributor you are an “Independent Contractor.” (See Section 3 – Independent Contractor Status, of your Distributor Application). This means that you will not receive a W-2 from LifeVantage as an employee, but that LifeVantage will issue a 1099 (Independent Contractor) at the beginning of the new year with your earnings for 2016. Remember, it is your responsibility to pay the taxes on that income earned. Remember to, that It is also an opportunity for you to identify legitimate business expenses, such as travel, meals, business tools, etc.. that you can use as deductions on your tax filings for 2016. LifeVantage encourages you to visit with a trained professional, accountant or otherwise, that can assist you in such tax preparation. We would also encourage you to begin to organize this information now and through the end of December to take full advantage of your tax saving opportunities.
That’s why we’ve combined cutting-edge research in the field of nutrigenomics with a powerful entrepreneurial vehicle.
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