I am an artist and need to buy a lot of raw materials to craft my product. Should I report the buying cost as cost of inventory or supplies under the expenses or both?
In the section for business taxes where it asks for your total purchases (supplies, materials) made during the year, does that include freight costs?
I am a carpenter and require small tools and equipment to perform my job, do I include this under "Supplies & Materials" or does it go under "Other Supplies"?
Should i include product my wife sold as income to her business or should it be inventory/materials? Her main business is music classes.
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