Yeah, Taxes

[Farrell]

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Whooooa. You scare me. I've never counted a thing for inventory (unless =
I think I might need to buy more for a project). Do like Nancy, just say =
no!

Terry Farrell
Piano Tuning & Service
Tampa, Florida
mfarrel2@tampabay.rr.com
  ----- Original Message -----=20
  From: Kelly & Bill=20
  To: Pianotech=20
  Sent: Friday, April 13, 2001 11:15 AM
  Subject: Yeah, Taxes


  I am new to the sport and am curious about a couple of tax items.  =
>From a previous (and continuing) business of mine in photography, as a =
sole proprieter, I have used the Accrual accounting method in which I =
have to do a physical inventory of all my prints, frames, et cetera. =20
  =20
  Since 2001 will likely be the first year I can call myself a =
professional technician, I am curious how we deal with all the little =
items like punchings, pins, et cetera that will likely be billed as =
parts for repairs we do, and therefore would seem to be candidates for a =
physical inventory at the end of the year.  Somehow though, that seems a =
bit rediculous to me.  I can just visiualize a bunch of technicians =
getting together at their PTG chapter meetings to have a punching =
counting tax party.  Any help in knowing what we call supplies, vs. =
inventory, as well as whether or not any sort of physical counting is =
done would be appreciated.
  =20
  William R. Monroe
  Associate Member, PTG
  Soon to be SLC, UT


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