creative write-offs

Discussion in 'Business Operations' started by kturner, Feb 15, 2002.

  1. kturner

    kturner LawnSite Member
    Messages: 53

    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?
  2. John Allin

    John Allin LawnSite Bronze Member
    Messages: 1,488

    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......
  3. gusbuster

    gusbuster LawnSite Bronze Member
    Messages: 1,932

    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.
  4. 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?
  5. 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.
  6. 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

  7. MuskTurfKing

    MuskTurfKing LawnSite Senior Member
    Messages: 338


    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.

  8. ATV with plow yes

    Banshee no

    The IRS aint that stupid.
  9. MuskTurfKing

    MuskTurfKing LawnSite Senior Member
    Messages: 338

    Dang, I always wanted one too! LOL

  10. Columbia Turf

    Columbia Turf LawnSite Member
    Messages: 99

    I would love to see the "advertising" on the boat this summer. I'm in the Gravois arm. Stop By!!

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