Tax writeoffs
- Thread starter JDA
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Pretty much any business-related expense. If you meet clients, you can even write off part of your car.
I write off just about everything. Even shopping stuff. It's become more of an addiction than a burden too, I love it!
Internet, hydro, rent, hosting, domain names, any work i pay someone for, cell, meals, office supplies, computer equipment.
for the home office, in canada anyways, you take the square footage of your house vs the square footage of your office as a percentage and write off that percentage of your rent/mortgage. this is the same for the hydro.
for the home office, in canada anyways, you take the square footage of your house vs the square footage of your office as a percentage and write off that percentage of your rent/mortgage. this is the same for the hydro.
That being said . . . Taking business deductions especially a home office deduction, during any year in which the business has mimimal revenue is like waving a red flag in front of a bull. It will almost surely result in an IRS audit and then you'll be expected to produce receipts for every pencil that you bought.
IRS agents are not stupid. If you do not have any revenue, they are going to assume you are making it sound like you have a business in order to deduct personal expenses from your income taxes.
Try to delay your expenses whenever possible until such time as you have some revenue to offset it against.
IRS agents are not stupid. If you do not have any revenue, they are going to assume you are making it sound like you have a business in order to deduct personal expenses from your income taxes.
Try to delay your expenses whenever possible until such time as you have some revenue to offset it against.
The rules are different everywhere.
Personally; buy a computer game, write a review, post it on a blog, claim computer game, play computer game for 120 hours, shower, repeat.
I claim lots of stuff. PC's (depreciation), a business share of mortgage interest, electricity, heating, water, rates (i work from home), credit card interest, hosting, domain names, scripts I've purchased, bank fees, car use (to bank, post office etc), ppc expenses, subscriptions to webmaster sites, newsgroup access, telephone... the list goes on...
/ worked last tax season for major tax people
Oh, make sure you put adsense or something on that blog. As long as the expense was incurred to generate some income (intent), you should be alright. The tax man should have no problem with you claiming a $100 game and earning $6 in revenue.
// don't work for major tax people any more
/// this is not advice.
//// slashies!
///// you should consider your own persona... fuck it. that's enough. do your own homework.
Personally; buy a computer game, write a review, post it on a blog, claim computer game, play computer game for 120 hours, shower, repeat.
I claim lots of stuff. PC's (depreciation), a business share of mortgage interest, electricity, heating, water, rates (i work from home), credit card interest, hosting, domain names, scripts I've purchased, bank fees, car use (to bank, post office etc), ppc expenses, subscriptions to webmaster sites, newsgroup access, telephone... the list goes on...
/ worked last tax season for major tax people
Oh, make sure you put adsense or something on that blog. As long as the expense was incurred to generate some income (intent), you should be alright. The tax man should have no problem with you claiming a $100 game and earning $6 in revenue.
// don't work for major tax people any more
/// this is not advice.
//// slashies!
///// you should consider your own persona... fuck it. that's enough. do your own homework.
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