Originally Posted by rbljack
I have a related question here as well. Because our equipment requires maintenance (oil changes, cleaning, lubes, tune ups, blade sharpening etc)...can we include that TIME we dedicate to that as an expense in addition to the materials. As an example, if we spend 8 hrs a month doing oil changes, blade sharpening, etc....can that TIME be applied as an expense? I havent had time to research this yet, but seems like a logical thing to me. IF we make X dollars per hour net, seems we should be able to log the time for maintenace like we do mileage, and then subtract that time and dollar value from our Net Income somehow.
Only if you have an invoice can you deduct an expense.
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