Helpful feedback, thank you. A follow up question....
Where would "supplies" be reported on the 1065? Or would it be reported as "Purchases" on Form 1125-A, COGS?
I do not see a category labeled "startup"...so it seems I would align the cost category as you outlined in your reply? I see Line 14, Taxes and licenses and Line 11, Repairs and maintenance. However, I do not see a line for "small tools and equipment".
Last question - most income is from services. But some hair products are sold as well. Is it possible to expense these as supplies without having to carry inventory on the books?
Thanks.
