Everybody's favorite subject...taxes
I am getting ready to start doing reptile shows in addition to internet sales. Do you all need Tax Id #, etc? Hate to ask such a touchy question, just wanting to make sure I do it right. Any help would be appreciated.
Re: Everybody's favorite subject...taxes
Check the tax codes, but you should be able to amortize your startup costs and spread them out as deductions over a number of years. This can be an advantage- if your startup costs give you more of a break than you need this year, you can spread them out so as to decrease your tax burden when hopefully you show profits in the next few years.