Thread: Write offs?
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Old 12-22-2012, 02:37 PM
32vld 32vld is offline
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Join Date: Feb 2011
Location: Long Island, NY
Posts: 3,973
Originally Posted by Darryl G View Post
If you want to deduct your equipment maintenance time you'll have to send it out to the shop or have an employee do it. If people could deduct the time they spent as an owner, people would be spending thousands of hours on it, lol. Similary you can't deduct your time doing administrative tasks unless you're paying yourself hourly and keeping time sheets and all.
Why can't one keep time sheets for the maintenace work that one does, pay oneself hourly, and write it off?
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