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<p>[QUOTE="saltysam-1, post: 1360036, member: 23368"]I always track what I pay for shipping and handling as a separate line item in my spreadsheet program. It is an out of pocket expense associated with the purchase of the coin or related item. It's like what the airline industry must now due when quoting ticket prices. And yes in theory, you should attach some cost for your time and travel, even though I know of no one that does. Before retirement, I would buy and sell items for my company. These costs would come off your profit as operating costs. And account for it or not, they will still be there when you sell. They are called a "soft cost" when it refers to just the item, and a "hard cost" with all expenses added in. They should be accounted for by any business that reports income to the government or wants to know where the actual cash flow of the company is going. It depends on how serious you are about where and how you spend your money. If you purchase five or ten inexpensive coins a year, it's not worth your effort. If you purchase many more, or more valuable pieces, you probably need to reconsider.[/QUOTE]</p><p><br /></p>
[QUOTE="saltysam-1, post: 1360036, member: 23368"]I always track what I pay for shipping and handling as a separate line item in my spreadsheet program. It is an out of pocket expense associated with the purchase of the coin or related item. It's like what the airline industry must now due when quoting ticket prices. And yes in theory, you should attach some cost for your time and travel, even though I know of no one that does. Before retirement, I would buy and sell items for my company. These costs would come off your profit as operating costs. And account for it or not, they will still be there when you sell. They are called a "soft cost" when it refers to just the item, and a "hard cost" with all expenses added in. They should be accounted for by any business that reports income to the government or wants to know where the actual cash flow of the company is going. It depends on how serious you are about where and how you spend your money. If you purchase five or ten inexpensive coins a year, it's not worth your effort. If you purchase many more, or more valuable pieces, you probably need to reconsider.[/QUOTE]
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