TN Bucknasty Posted February 4, 2010 Report Share Posted February 4, 2010 Anyone out there know of some tips for tax write offs for my taxidermy business? I've been working for someone else, but next year I'm striking out on my own. I know I can claim all of my tools and supplies along with gas for deliveries, power bills, shop construction, etc. I'm needing some critters (elk, wolves, etc.) for sample work, and I'm going to have to go hunt somewhere else to get them, could I claim my trip? Anything else I'm leaving off? Quote Link to comment Share on other sites More sharing options...
RTF Posted February 5, 2010 Report Share Posted February 5, 2010 Anything related to the business that results in income to the business is deductible. If your shop is attached to your house a percentage of the utilities related to that area will also be deductible. Real estate taxes for the shop are also deductible. Don't forget website hosting also if you have website. Make sure you keep all reciepts and keep accuratte records of income and expenses. Quote Link to comment Share on other sites More sharing options...
TN Bucknasty Posted February 5, 2010 Author Report Share Posted February 5, 2010 Anything related to the business that results in income to the business is deductible. If your shop is attached to your house a percentage of the utilities related to that area will also be deductible. Real estate taxes for the shop are also deductible. Don't forget website hosting also if you have website. Make sure you keep all reciepts and keep accuratte records of income and expenses. Thanks for the tip on the house utilities. I was wondering about that. Quote Link to comment Share on other sites More sharing options...
toddyboman Posted February 6, 2010 Report Share Posted February 6, 2010 I believe ANYTHING related to your business is deductible. Just be sure you have good receipts and records. Utilities, phone charges, internet access, cell phone. Even gas and miles on your car/truck IF you use it to pick up supplies, deliver finished products or marketing purposes. Just be sure you have great documentation and receipts to back this up IF you was ever to get audited. Quote Link to comment Share on other sites More sharing options...
RTF Posted February 6, 2010 Report Share Posted February 6, 2010 Also know that your supply inventory if you have one is income and must be included as such. You really will need a tax professional when you get going. It's the only way to cover your rear end. Quote Link to comment Share on other sites More sharing options...
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