Expense

insunup

I filed a declaration, and today I noticed that I included the cost of a hairdresser’s license in the photographer’s expense. Do I need to file an adjustment return and when?

kiarab

Hello,

So you included a non-related expense for your photography business? I would recommend amending your tax return so you can have an accurate return in the off-chance that you are audited. We usually recommend that you wait to amend your tax return until you received your original refund. This helps prevents confusion as amendments can take up to 20 weeks or more to process.

If you paid taxes this year, then you should be okay to amend. Make sure that you enter the amount of refund you received or taxes paid once you start the amendment. This helps the software determine how much you should pay back or if you should getting more.

insunup

Hello!
Yes. I included this expense in the photographer's expense, but did not include it in the hairdresser's expense. The tax amount will not change, but I am worried that I mixed up the pages and entered the expense in the wrong place, and did not indicate it where necessary. So, I'll wait until the refund arrives and then submit the adjustment.
Thank you!