Is this a tax deduction?

Discussion in 'Business Operations' started by rutwad, Sep 25, 2006.

  1. rutwad

    rutwad LawnSite Member
    from Alabama
    Messages: 179

    If I spend a day working on my equipment for regular maintenance or repairs, can I count this time off as a tax deduction? It is money I would otherwise have to pay someone else to do, so instead of spending money I am spending time and not generating any income. What do you think?
  2. Total.Lawn.Care

    Total.Lawn.Care LawnSite Senior Member
    Messages: 840

    If you are a C-Corp and draw a salary from your business, then yes, your business pays your time and it is an expense to the business (tax deduction) but income to you personnaly. Otherwise, no, it is not a tax deduction. It is overhead time (expense) that you have to account for and build into your pricing to yoru customers. Most customers only think of the time you spend on their property. You have to include a portion of the time that you spend geting ready to go to the customers property into all your pricing to make up for maint time like this.

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