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Old 02-16-2002, 12:20 AM
kturner kturner is offline
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Location: Seattle, WA
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creative write-offs

I'd love to hear some of your creative write-off ideas.

I'm not so sure my accountant is all that aggressive.

I built a shed for the business this year...think I can write that off?
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Old 02-16-2002, 12:45 AM
John Allin John Allin is offline
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You might have a bit of a problem getting many to admit to some of that on this open forum.......

Most of the time it's not the accountant that gets creative.... it's the savy business owner that has been 'educated' as to what can, and can not be done.

It's a good arguement for belonging to an Association.... networking at Association functions, meetings, and seminars is where one can learn such things without fear of retribution from "the man".....

Not that I do such things, you see... this is just what I have heard through the grapevine......
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  #3  
Old 02-16-2002, 12:56 AM
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gusbuster gusbuster is offline
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Entertaiment expense????

Your lunch? could get into trouble, but always take one of my lunches as a business expense. (meeting a client or partner)

Just got to keep receipt. Gotta love A.E. for this.
John
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  #4  
Old 02-16-2002, 03:09 AM
LAWNGODFATHER LAWNGODFATHER is offline
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If I put a sign on the back of a $500,000 42' Fountain Lightning

Can I write that off as advertizing?

Get the point?
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  #5  
Old 02-17-2002, 04:01 PM
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Bob Minney Bob Minney is offline
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Location: The Hottest driest city next to Hades - Denver Colorado
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On writting off the shed, if it's business use it's deducable. Form 4562 and decide sec.179 or GDS.
On the $500,000 fountain, if I was advertising & selling them and needed a display, I'd claim it. It shouldn't matter if its at your home, if thats your only available display area.( I was assuming you meant putting it up at home) Naturaly if I was planning to spend 500,000, I'd spend a little more and get some pro advice 1st. My point is what seems like a laughable suggestion on the surface, could have good case made for a legitimate write off.
Anyway, in comarison my suggestions are small, boring and probably obvious.
1. Car wash expense - for truck and equipment
2. Cleaning uniforms
3. mileage for business errands in personal car
4. gifts to customers

And how about we get some trade shows in the winter months that are in Hawaii, Mexico, Tahiti, Florida, somewhere so us mountain boys can get a tax break when we go somewhere warm.
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  #6  
Old 02-17-2002, 06:50 PM
LAWNGODFATHER LAWNGODFATHER is offline
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No just an example, but remember what corporate america does you can also do.

I have said it before and I will say it always. Every thing you buy, use or think you may need is tax deductable.

You have to get a little creative.

EG: Big screen TV = Training with video tapes

Paying for the guys to eat = LCO meeting

Partying with a customer = Business meeting

Visiting Florida for GIE show vacation = Training expence

Visiting KY EXPO = Training expence

Home garage storage = Shop

Home = Office

Sign on the back of your boat = Advertizing

ETC................
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  #7  
Old 02-17-2002, 07:26 PM
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MuskTurfKing MuskTurfKing is offline
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Hahaha,

Yamaha Banshee = plowing

Going to expos in nice places like Florida = training

Getting a big ol' cool barn built = shop

Gas for lotsa stuff = business expenses

Now if you get audited, don't go blaming me.

Hank
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  #8  
Old 02-17-2002, 07:31 PM
LAWNGODFATHER LAWNGODFATHER is offline
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ATV with plow yes

Banshee no

The IRS aint that stupid.
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  #9  
Old 02-17-2002, 07:46 PM
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MuskTurfKing MuskTurfKing is offline
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Dang, I always wanted one too! LOL

Hank
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  #10  
Old 02-18-2002, 02:02 AM
Columbia Turf Columbia Turf is offline
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LAWNGODFATHER
I would love to see the "advertising" on the boat this summer. I'm in the Gravois arm. Stop By!!
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