 Tax consequences of paypal |
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| Jgilliam914 |
 Feb 4 2025, 09:08 AM
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#21
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914 Guru  Group: Members Posts: 5,340 Joined: 30-July 12 From: Iowa / Florida Member No.: 14,732 Region Association: Upper MidWest  |
I was told by my tax guy that if you stored the parts in paid storage then that is a deduction too.
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| technicalninja |
Feb 4 2025, 10:08 AM
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#22
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Advanced Member Group: Members Posts: 2,377 Joined: 31-January 23 From: Granbury Texas Member No.: 27,135 Region Association: Southwest Region 
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Yes, storage is part of the cost of doing business...
Works KICK ASS if you're filing a schedule C which is what you HAVE to do if you have a business. Business owners (like me) have multiple ways around this. What I'm not sure of is if can you file expenses off of a simple 1099 without going "Full Monte" as a business. After a week of going through mom's stuff I've come to the conclusion that the way to go is an Estate Sales Company. I've got enough stuff to open the biggest resale shop in Granbury right now! That is a business I have ZERO interest in... |
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