topic Is cost of items delivered "COGS" or "reimbursed expenses"? in Get your taxes done using TurboTax

Is cost of items delivered "COGS" or "reimbursed expenses"?

mnikain — Sun, 12 Jan 2020 20:02:29 GMT

I operate a concierge business where I do shopping for clients, take care of cars (get gas, repairs, service), etc. I charge them monthly based on my fee and all the money I spent for them (e.g. in purchasing items, paying for repairs, etc.). Do I count "all the money I spent for them" as "reimbursed expense" or COGS? Thanks

Re: Is cost of items delivered "COGS" or "reimbursed expenses"?

Critter — Sun, 12 Jan 2020 20:17:10 GMT

You do not have a COGS since you don't have inventory. You will report all the income from all sources then deduct the expenses under any category that is appropriate or you make up.

Re: Is cost of items delivered "COGS" or "reimbursed expenses"?Q. Is cost of items delivered "COGS" or "reimbursed expenses"?

Hal_Al — Sun, 12 Jan 2020 20:40:02 GMT

Q. Is cost of items delivered "COGS" or "reimbursed expenses"?

A. Reimbursed Expenses.

Re: Is cost of items delivered "COGS" or "reimbursed expenses"?Q. Is cost of items delivered "COGS" or "reimbursed expenses"?

mnikain — Sun, 12 Jan 2020 21:48:01 GMT

thanks

Re: Is cost of items delivered "COGS" or "reimbursed expenses"?

trelfalabs — Thu, 28 Apr 2022 18:35:59 GMT

What if you buy supplies for a customer? Is that technically considered inventory, though it is short lived, only because it is a tangible item?