Tax write-off for purchase to review?


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superCool
April 29th, 2008, 08:57 AM
I have some items I plan to review for my site and I'm wondering if I can write off the cost of the items on my taxes. Does anyone have any experience with this?

I'll check with an accountant before I go too far, but just curious to see if any of you folks do this.

__________________
superCool OUT :nerd:

Howard Gottlieb
April 29th, 2008, 09:14 AM
We make test purchases but have not written off the cost. We try to find items we would want to own.

Lots of potential red flags when self employed. Don't wanna be a red flag waver.

But do talk to your accountant.

HardwareGeek
May 26th, 2008, 02:03 AM
you can only write it off if you use it 100% for your business. If you end up using it for personal use you can't.

Alan Hamilton
May 26th, 2008, 08:49 AM
Checking with an accountant is the way to go. R&D expense would be an area I'd suggest checking out with your accountant.

Drewbert
May 26th, 2008, 06:08 PM
Being able to buy stuff like 50" LCD HCTV's and writing them off as an expense just by putting a product review on a website visited by 10 people a year?

Yeah, the IRS would let you get away with that.

Not.

superCool
May 26th, 2008, 10:02 PM
superCool thanks those of you who offered insight.

Drewbert you were way off - it's a 32 inch and the site is visited by over 50 people a year...so as you can see it's a completely different situation than what you described....no you are not seeing things - that really is a zero behind the five

superCool is off to the races

        
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