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?
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.
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?
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).
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?
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).
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