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Daycare and Taxes>Deduct Shipping and Handling for Online Purchases?
earlystart 03:30 PM 02-12-2014
I wasn't able to find this by searching threads, so, does anyone know if you can deduct the shipping costs of items you buy for the daycare online? I know we can include sales tax, but now I'm wondering about shipping costs. If so, do we just include it as part of the item price, or keep a separate category for shipping expenses? For example, if I buy a toy online for $5, and shipping is $5, and tax is $0.40, do I consider this item's cost to be $10.40?
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Michael 04:47 PM 02-12-2014
Originally Posted by earlystart:
I wasn't able to find this by searching threads, so, does anyone know if you can deduct the shipping costs of items you buy for the daycare online? I know we can include sales tax, but now I'm wondering about shipping costs. If so, do we just include it as part of the item price, or keep a separate category for shipping expenses? For example, if I buy a toy online for $5, and shipping is $5, and tax is $0.40, do I consider this item's cost to be $10.40?
In my opinion, I can't see why not. It is still an expense for your business.
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CrackerJacks 09:15 PM 02-12-2014
I do. I include it as part of the cost of the item.
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Angelsj 05:56 AM 02-13-2014
I include shipping as the cost of getting the item to your daycare, just like you could include mileage if you drove to get the object.
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TomCopeland 03:45 PM 02-14-2014
Originally Posted by earlystart:
I wasn't able to find this by searching threads, so, does anyone know if you can deduct the shipping costs of items you buy for the daycare online? I know we can include sales tax, but now I'm wondering about shipping costs. If so, do we just include it as part of the item price, or keep a separate category for shipping expenses? For example, if I buy a toy online for $5, and shipping is $5, and tax is $0.40, do I consider this item's cost to be $10.40?
Shipping costs are part of the cost of the item, so count it as $10.40.
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