/biz/ - Business & Finance

Accounting question that has to do with precious metals.

So I run a small business selling collectible coin “grab bags,” and this year I’m on track to do about 70k in gross sales but hopefully I can scale past 100k this year. This requires me to buy a LOT of old constitutional silver and gold coins, among other collectibles of course.

Anyway, I’m in college and I really only need about $1200 a month to pay for my rent, utilities, car insurance, groceries, fraternity dues, phone, and live comfortably. But I’m profiting about $2500 a month from this alone.

My idea was to use this excess income to stack more bullion and write it off as me just buying more inventory where I would then just...not send it out and put it in my personal stash.

Would this work? I don’t see how it would be an issue. It’s money I would have anyway.

random thots from my insta for your time