Todd, et all US techs: I can't answer your Quickbooks question, however, when I first started in the business, I talked to an accountant / tax man which directed me in setting up my "books". The tax man did my taxes, the first two years, then I have been doing them since. He said, if possible - for tax time - set up your COA, based on the 1040 Schedule C. So with my package, I have everything setup that way including Schedule C line numbers - so its just a number transfer and your done. ***** I will be glad to send, privately, anyone an example of how mine are setup ***** As you may know, there is a weird limitation about the use of your home as work space. Especially your "office" space. Unfortunately my "office" space is also my "personal" work space as well. Here is where it gets very confusing - so go slow. I leave the "office" space alone - but - as a workaround, you can claim a - percentage - of your home (as work space), off on all your utility bills. So, if you calculate, that you use 50% (based on the square footage of your home and the square footage you use as work space) of your home as work space, than take all you utility bills - times - 50% and that is what you claim for taxes. This includes - any - combination - expense - done for personal and work space. For example, if you add lighting, outlets, chairs, a bathroom, termite / bug treatment, etc. 50% can be claimed as "workspace" cost. With regard to depreciation, go ahead if you want to drive yourself insane - otherwise - forget it - write it off as an expense now and forget depreciation. As far as car and truck expense (line 9), unless you have a vehicle that is in constant need of work, the mileage cost - usually - covers your expenses. Legal & professional serves (line 17), if you are note doing your own taxes, you can claim tax man fees here. In summary, if you can, setting up your COA to Schedule C is - the - way to go. Duaine On 02/24/2011 07:42 AM, Matthew Todd wrote: > Does anyone else here use quickbooks for their financials? > > Could some of you please e-mail me and let me how I classify wholesale > parts cost seperate from my income? I'd rather not pay taxes on parts > that I purchased for customers. > > Thanks! > > ***_TODD PIANO WORKS_* > Matthew Todd, Piano Technician > (979) 248-9578 > http://www.toddpianoworks.com <http://www.toddpianoworks.com/> > -- Duaine Hechler Piano, Player Piano, Pump Organ Tuning, Servicing & Rebuilding Reed Organ Society Member Florissant, MO 63034 (314) 838-5587 dahechler at att.net www.hechlerpianoandorgan.com -- Home & Business user of Linux - 11 years
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