Life Tax Experts/Business owners - Page 2

dj56dt58 · 01-12-2010, 03:13 PM

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.

Wyndex · 01-12-2010, 06:28 PM

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

Hog's Gone Fishin · 01-12-2010, 06:37 PM

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 ?

Hog's Gone Fishin · 01-12-2010, 06:40 PM

Quote:

Originally Posted by dj56dt58

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.

Are the shoes you're selling made in Ethiopia ?

dtebbe · 01-12-2010, 07:07 PM

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

dj56dt58 · 01-12-2010, 10:06 PM

Quote:

Originally Posted by Wyndex

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

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

01-12-2010, 03:13 PM
dj56dt58 Banned Join Date: Dec 2005 Location: Missouri Casino cash: $9960055	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.
Posts: 6,361

01-12-2010, 06:28 PM	#16
Wyndex Starter Join Date: Oct 2008 Location: Kansas City, KS eastside Casino cash: $9994939	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
Posts: 514

01-12-2010, 06:37 PM	#17
Hog's Gone Fishin Fish are scared of me Join Date: Nov 2001 Casino cash: $-1449523	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 ?
Posts: 40,646

01-12-2010, 07:07 PM	#19
dtebbe 3M TA3 Join Date: Jul 2001 Location: SoFlo Casino cash: $9993039	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
Posts: 4,305