What is the name of your state? Florida
My wife has been selling Mary Kay cosmetics for several years. We file a schedule C each year using the accrual method for inventory (beginning inv + purchases - sales, etc and get ending inventory). However, for the past several years she has made no purchases and sold relatively nothing (maybe only some personal use). Her total inventory is about 900. How can we discontinue filing the schedule c and "get out of the business" tax wise. Is there a way to write it off or just quit filing the schedule or what. Please help. Thanks.