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posted Oct 30, 2019 9:19:12 AM

Trying to figure out what all is classified under "inventory" as a photographer. Do I count things like my camera, wardrobe and such or is it 0 as I don't have stock?

I'm wondering if I use the value of things like my computer, camera, lenses, décor, wardrobe, business cards, website/domain hosting under inventory.

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Moderator
Oct 30, 2019 9:19:13 AM

Inventory would be things that you sell, not things that you own to use in your business. For example, if you have a retail store and you sell things like picture frames, scrapbooks etc... those would be your inventory.

Things like business cards and web-hosting would be expenses, while things like your computer and photography equipment might go in the Capital Cost Allowance (CCA).

1 Replies
Moderator
Oct 30, 2019 9:19:13 AM

Inventory would be things that you sell, not things that you own to use in your business. For example, if you have a retail store and you sell things like picture frames, scrapbooks etc... those would be your inventory.

Things like business cards and web-hosting would be expenses, while things like your computer and photography equipment might go in the Capital Cost Allowance (CCA).