Posted by Bill on May 27, 2006 at 22:44:01:
Thanks for the help.
Wholesale income? - Posted by Bill
Posted by Bill on May 26, 2006 at 22:38:15:
Can anyone help with this.
Re: Wholesale income? - Posted by dealmaker
Posted by dealmaker on May 27, 2006 at 06:14:26:
Yes, just like the grocer or gas station owner pays taxes on the difference between “cost of goods” and sales. Remember though that the gross income is adjusted down by any expenses you incurred to create that income, mileage, advertising, etc.
Still income, except it’s now in the basis of your future sales.
dealmaker