tax question

[John Formsma]

Ed,

I'm not a tax guy at all, which is why I hire a CPA. But, what I think she
does is deduct all parts and supplies (wholesale cost to me) from my gross
income, along with all the other business expenses. Think of it (like in a
spreadsheet) as gross income in the top line minus all the expense lines =
bottom line (net taxable income). Parts and supplies are along with the rest
of things that get deducted.

JF

On 2/27/07, ed miller <edmiller3 at hotmail.com> wrote:
>
> Hello,
>
> How do you do your taxes in regard to the materials used when servicing
> pianos.
>
> For example, glues, tapes and paper puchings. Are these things deducted
> (in
> that they are operating expenses)? Or are they claimed as parts sold (for
> example, when you regulate a piano your client has essentially bought the
> punchings used to level the keys)? Deducted vs claimed.....hmmm?
>
> When I charge a client for a regulation (including pre-regualation
> repairs)
> I add a shop supplies fee, somewhere around $10-15. How do I account for
> this when filing my taxes?
>
> Thanks,
> Ed
>
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