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I’m confused on what i report on my tax return for square processing for my sales
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you should consult a tax preparer or accountant for the best advice to where you are.
Just In general, income is your gross sales and then your fees, item cost, and other expenses to your business are expenses to lower your gross income to reveal your true profit.
you should consult a tax preparer or accountant for the best advice to where you are.
Just In general, income is your gross sales and then your fees, item cost, and other expenses to your business are expenses to lower your gross income to reveal your true profit.
I agree with @VanKalkerFarms on this. Your tax return isn't something you want to mess with if you don't know what you're doing. The last thing anyone wants to deal with (while they're trying to run their business) is an audit. I use an accountant for tax preparation. $800 well spent that I can write off every year.