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Can I claim the COGS on my tax return for my e-commerce business?

Asked 2 years ago

I recently calculated the COGS for my e-commerce business. I had the idea that maybe I could claim this amount on my tax return. Does anybody know if this is possible? Has this ever been done before?

Jaxon Horton

Friday, August 05, 2022

Yes, you can include the Cost Of Goods Sold (COGS) for your e-commerce store in the tax returns which can reduce the taxable income, since they are also direct costs. This is why it's important to include the COGS in the income statement even if you have an online business.

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