How do I determine the cost of my products for tax purposes if I forget how much they were in the first place?
My husband and I have collected antiques for many years, mostly small items that could easily be sold on eBay. The problem is that I don't remember how much I paid for most items. How do I determine the cost of these for tax purposes?
Sound tax and accounting procedures are essential to growing a financially secure company. But multiple hiccups threaten the accuracy of these processes, elevating the risk of compliance penalties and reputational harm.