I am the owner of the business and the only one. No employees, doing this as a side business. I work a regular 8-5 job and run this vending machine as a side business, providing drinks and snacks to fellow employees. I had a tax preparer tell me before, I had to tabulate gross taxes and then deduct the state taxes I paid. Before I wasn't reporting state taxes paid and only listing net and the goods bought for sale so I got confused. So how would I list this? Gross with taxes and goods sold or net with goods sold?
I don't keep inventory and this is a cash only business.
