Tax Experts/Business owners
 

I run an online shoe store and have read that I can claim shipping expenses on tax deductions. So what I'm wanting to verify is if I ship the shoes to my customer for free, can I claim the amount I paid to ship them off my tax deductions? Thanks for any advice, I can't seem to come up with a constant answer anywhere.

online SHOE STORE?!
i heart you.

a-zfootwear.com

buy something!

;)

You can write off legitimate business expenses, and shipping is a legitimate expense. I see no problem here.

I don't know the specific tax line or anything. Are you incorporated and everything? Sole proprietor? Corporation of some sort? LLC?

You makin' bank? I wish I owned my own business.

I would hire an accountant.

CPA here, there is no problem deducting this expense assuming you are claiming the income. I am guessing you are a sole proprietor and will need to file a Sch C, but need more info to be 100% sure.

It appears that he has taken your advice and retained 1MoreTRich in exchange for casino cash.

That's kind of what I was thinking, just wanting to make sure since I won't be able to meet to a tax professional for a few days when my car is fixed. Thanks

just started it about a month ago. Still haven't sold anything on the site yet but I am doing ok on Ebay. I can deduct ebay/paypal fees so If I can deduct the shipping fees I will be doing pretty good starting off. Not sure why I haven't sold on the site, I have tried adwords and hired people to write my keywords and submit them to search engined regularly but still no sales there.

Thanks for the response. I am claiming income and paying the sales tax for sales within the state of MO and I am a sole proprietor.

Yep, your accountant will do a Sch C for you and you should be good. Any expense that has to do with your business is pretty much deductible, packing materials, insurance, shipping, etc. Give your accountant totals of all your income and expenses and you will be set.

Ok thanks a lot for your help. Rep

Buy a new computer that you use to design or market your website on certain Chiefs boards, that too is deductible.

Bought a laptop but advertising on a certain chiefs board would be cool..I could set up a discount.

i'll totally buy a pair of these:

if you can get me a damn 14

http://www.a-zfootwear.com/products/...-black-Hi.html

Any time you have a business it is worthwhile to have an accountant file your taxes. It's money well spent . And yes your shipping expenses are tax deductible as well as any other expense you incurr to do business.

I wonder if I could sell boar semen on line to people that don't have pigs ?????

I'll bet there's a good amount of interest from the CP fan base . Semen balloons for Haley at the home opener ?

Are the shoes you're selling made in Ethiopia ?

that's straight up cost of goods sold. Nothing to claim... Comes right off your Schedule C.

X2 - Talk to a CPA, not staying of top of your regulatory requirements can be a huge mistake.

DT

12 is the highest I have now but I'll try a different supplier