Creatives, Makers, and Cost of Goods Sold

Calling all creatives and makers! This episode is just for you. You likely have a lot of questions about the products you make and sell, and how that all ties into what you can claim on your taxes each year. So, in this episode, we hope to help you understand what you should be doing with the goods you make and sell plus how to track for taxes by discussing:The definitions of inventory and cost of goods sold.Best practices for organizing and tracking inventory.Why you have to wait to claim cost of goods sold as a deduction.Need more? Our team has put together a free resource library to save you valuable time and energy in your business! Ready to get started with Quickbooks? Use our referral link. If you're ready to outsource your Accounting and/or Tax prep needs go to www.littlefishaccounting.comFind us online:Instagram:www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctgConnect with Keila!LinkedInwww.krht.co