3 ms·
Well income tax wise you'd have to pay taxes on the income regardless of where it's coming from. If there is a country that is under embargo (which I don't know
by camz 16y ago
Well income tax wise you'd have to pay taxes on the income regardless of where it's coming from. If there is a country that is under embargo (which I don't know haha) then you're keeping all of the income. Thus, you would have to pay tax on the full amount because you never remitted the portion of the sale that was supposed to be your cost.
If you pay it out later on, then you could take a deduction for it later. This is a common issue that people deal with. It's essentially cost of goods sold. It'll become part of your COGS once you pay it.