Can some describe some items that normally work here, taxline 22 supplies not included in part 3 on sched C.
I'm trying to understand better Part 3, line 38 materials and supplies.
This
a racking brain day
thanks
Floyd
Counting snaps, ? whats a good way to inventory these by the box or pound, dixie cup any thoughts on the subject.
Also these have several parts as many of you know to build one side of the snap so any help here would be appreciated.
Floyd
If it seems I'm talking to my self, don't fret! even I need quality advice.
;)
Floyd,
Seems like your trying to make inventory more important than it has to be in most businesses. In my 40+ years as a sole proprietor I carried $500.00 in inventory for tax purposes. In the beginning and end of the year. When I went to a corporation my accountant said to do the same thing. Inventorying snaps, thread, supplies, would be mind blowing. So it is not necessary.
I understand, I'm going to take a look at it from a different direction.
Thanks
Floyd