Yeah, Taxes

Kelly & Bill kellybill_m@hotmail.com
Fri, 13 Apr 2001 10:15:03 -0500


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I am new to the sport and am curious about a couple of tax items.  From =
a previous (and continuing) business of mine in photography, as a sole =
proprieter, I have used the Accrual accounting method in which I have to =
do a physical inventory of all my prints, frames, et cetera. =20

Since 2001 will likely be the first year I can call myself a =
professional technician, I am curious how we deal with all the little =
items like punchings, pins, et cetera that will likely be billed as =
parts for repairs we do, and therefore would seem to be candidates for a =
physical inventory at the end of the year.  Somehow though, that seems a =
bit rediculous to me.  I can just visiualize a bunch of technicians =
getting together at their PTG chapter meetings to have a punching =
counting tax party.  Any help in knowing what we call supplies, vs. =
inventory, as well as whether or not any sort of physical counting is =
done would be appreciated.

William R. Monroe
Associate Member, PTG
Soon to be SLC, UT


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