Part 4 of 5 Tax Saving Strategies (Inventory Management)

Are you a sports card business owner who loves paying taxes? Probably not! The right strategies can make tax season less stressful and more profitable.

In this Short, Jonny Petruco, the Sports Card Tax Guy, shares the Part 4 of the 5 tax-saving tips that could save you thousands of dollars!

📝 Tip #4: Optimize Inventory Management for Tax Savings

Inventory = Your Biggest Expense
Track Cost of Goods Sold (COGS) for proper deductions
Beginning Inventory + Purchases – Ending Inventory = COGS
2017 Tax Cuts & Jobs Act allows a more flexible deduction approach
Potential Tax Strategy: Deduct full purchases without carrying over inventory (consult a tax pro!)

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Видео Part 4 of 5 Tax Saving Strategies (Inventory Management) канала Sports Card Tax Guy