RobertB4444
Expert Alumni

Get your taxes done using TurboTax

Yes, you will report your income and expenses on schedule C.  If you do not report COGS then you pay tax on 100% of the money that you earned even though a lot of it was spent on supplies and a mobile restaurant.

 

You can deduct the expenses related to researching food for your restaurant.  Mileage on your vehicle, the cost of purchased food items, etc. are all deductible.

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