[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 2.99 MB, 357x281, 1411337023017.gif [View same] [iqdb] [saucenao] [google]
501158 No.501158 [Reply] [Original]

Taxes. My first time doing them for my business.

1) I charge 10$ shipping on an order, but sometimes shipping is more, and I cover it out of my business profits. When reporting expenses, do I state shipping as 10$ or actual amount?

2) What constitutes a receipt? I have digital invoices on every order, but not tangible receipts. My digital invoices are not printer-friendly.

3) Sometimes I give free shit away. What would I categorize this as, a gift? Charity?

>> No.501223

>>501158
1actual amount

2-convert to PDF and print or screen cap it and print

3- no! For it to be charity you would have o get a tax deductible charitable revolt from an organization that have charity or non profit status , but you can allocate as a marketing. Cost just include the invoice and you can deduct the original cost

Also get a public accountant to prepare your taxes, it will save lots of money on dumb mistakes