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Do you have to do COGS/Inventory or can you just expense as materials/supplies for a very small side biz?
I've heard different things from tax folks. I'm confused as to how I would even compute COGS for my product as it has many small incremental expenses, some of which are somewhat random and not consistent.
Is there a threshold at which a small biz needs to use COGs/Inventory as opposed to expensing inputs as materials/supplies?
May 22, 2024
12:14 PM