COGS or expense?

I have an automotive business that primarily does automotive computer programming, I have to purchase a file for each one I do, so my question is are those COGS or expenses?

posted

You could list it as either. It will have the same end result and it is technically both.

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I spent money in 2024 to prepare my primary residence for renting it in 2025. Which year should I apply the expenses to my taxes?

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