Glowlite Posted October 19, 2005 Share Posted October 19, 2005 I've had alot of internet sales this year. I am trying to get all tax stuff together and am wondering what to do about the shipipng charge.Ok here's my ? Do I add the shipping that I charge into my total gross sales then take the shipping out as a deduction/ expense or what? I am really confused on this! Any help would be very appreciated. Quote Link to comment Share on other sites More sharing options...
RobinInOR Posted October 19, 2005 Share Posted October 19, 2005 Yup. If the customer is paying you the shipping, that's income. And you are correct, it's offset as the expense of what you actually pay out. Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted October 19, 2005 Share Posted October 19, 2005 I have the total sale amounts (products + shipping) under income. Then I deduct the shipping (actual cost) as an expense under "cost of goods sold" in the tax form. Quote Link to comment Share on other sites More sharing options...
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