Tax/Biz Q&A

[Sharksfan]

I hope to god people aren't getting their tax advice here...

Agreed. It should always come from a CPA.

If I can give one piece of advice it's this:

GET A CPA.

 

[papajohn56]

No. Why would you think so?

Business expense. Usually you can write off your expenses. Many businesses write off the cost of advertising

 

[transistor]

I deduct my PPC expenses

 

[DreamMachine]

I'm assuming you can write off PPC costs as a tax deduction?

Yes, it's a cost of doing business.

In Australia (and I'm sure the US works the same way), you work out if something is deductible by asking the question "Do I NEED this product/service? to run my business" or "If I don't have this product/service will my business suffer?". So you need a computer, some office space, a desk, chair, monitor, internet connection, phone line, etc. You don't need a rolex watch, unless you have a site that is reviewing different rolex watches (and you better make sure you review more than just 1 and can prove it to the nice IRS man).

Cars and clothes are special cases. For clothes, to claim them you need a company logo on them (so it rules out suits, etc.) For a car, different taxes (FBT) come into play and I'd guess that the rules are different in the US.

 

[Sharksfan]

Rules for cars in the US are batshiat insane unless you have a job like "general contractor".

That's one place even I don't bother going. I just get mileage re-imbursed.