I am starting a beauty shop. Somebody said I needed to keep track of retail items like shampoo and other hair products that I sell to customers. Do I have to keep track of dyes and permanents I use on customers?
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Keeping track of stuff
You have to keep track of all business expenses.
But I assume you are asking about whether to track inventory or not. Things you re-sell are inventory and are not deductible until sold. Supplies used in performing a service, such as shampoo used while giving hair cuts, are not inventory, and are generally deductible when purchased.
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