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Thread: keeping retail items

  1. 05-02-2015 04:00 PM #1
    eshwaarx
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    Default keeping retail items

    so ive started an online store selling various items. my question is what if i would like to keep some of these items for my own personal use. is their a way i could write off these items, and if their is ant limitations. how exactly would this work?
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  2. 05-02-2015 05:53 PM #2
    Freelancier
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    If you keep them for the business' use, then yes, it's an expense you can write off. If you buy it for your store and convert it to personal use, it's no longer a business expense... AND it could require you pay sales tax on it.
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  3. 05-02-2015 09:25 PM #3
    homie107
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    What kind of retail items are you selling?
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