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April 13, 2024
Question

Self-employed Physician Expenses

  • April 13, 2024
  • 1 reply
  • 0 views

I am a self-employed physician. I purchase Botox and filler to inject on my patients. I do not sell these products directly to my patients - they are used in procedures. I spend about $40,000/year on Botox and filler. Under what Expense category do these go? Supplies? Office Expenses? Miscellaneous? Something else? Thank you!

    1 reply

    Employee
    April 13, 2024

    Supplies are the stuff used up in getting the work done or stuff turned over to the client. COGS is inventory. Stuff on shelves sold to buyers i.e. Corn Flakes in a supermarket.

    mpsekhonAuthor
    April 13, 2024

    Thanks for the response. So where would you list Botox and filler and other similar injectables used on patients in procedures? Thank you. 

    VolvoGirl
    Employee
    April 13, 2024

    Yes use Supplies.  Or you could enter them under Other Misc Expenses.  Either place.