Flooring
Flooring: the tax questions worth asking early
Material-heavy jobs and customer-supplied material change what your margin actually is.
Decisions that change the picture
- Carrying material inventory versus ordering per job.
- Installing customer-supplied material at labor-only rates.
- Buying specialty tools or a delivery trailer.
Records worth keeping as you go
- Inventory counts at the start and end of the year.
- Job records showing labor-only versus supply-and-install work.
- Waste and remnant tracking.
Questions to bring to your tax pro
- Do I need to track inventory formally for my size?
- Is my labor-only work priced where it needs to be after tax?
- How should tool purchases be handled this year?
This guide is general information, not tax advice. Your tax professional decides what applies to your business and your filing.
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