Go Back   InterNACHI Inspection Forum > General Inspection Topics > Miscellaneous Discussion for Inspectors

Notices

Miscellaneous Discussion for Inspectors Discuss whatever you wish in this forum.

Reply
 
LinkBack Thread Tools
  #1  
Old 12/17/06, 4:44 PM
Justin Watts Justin Watts is offline
InterNACHI Member
 
Join Date: Nov 2004
Location: Rancho Santa Margarita, CA
Posts: 782
Thumbs up Tax Write-offs NOT to Forget with Tax Season Approaching...

Hi Guys,
Since I do my own taxes with Turbotax, I want to make sure I don't miss any "small item tax write-offs" that add up a lot... The program does all the major ones, but there are always small ones that I forget... I am putting together a list and feel free to add to it to share with everyone including myself...

Top Business Expenses for Tax Deductions:

1. Home office expense
2. office supplies
3. Business Insurance costs
4. Advertising - internet directories, car magnets, business cards, flyers, etc.
5. Equipment - computer supplies, hardware, programs, software, etc. etc. cameras, batteries, etc.
6. Associations, NACHI, etc.
7. Hi Speed Cable modem access, required for business... (internet connection) Not sure if this one qualifies.... but Partial Cable TV for learning shows such as Home TV, House Detective, etc. etc. ?!?
8. Vehicle expenses, depreciation and mileage expenses
9. Business meals / 50% off.
10. Postage, PO BOX, taxes or fees... toll road fees
11. Books, publications, etc.
12. Cell phone calls... plan, etc.
13. Dry cleaning of shirts

These are all the ones I could think of....Am I missing any???? Please add in your replies.

Thanks!
Justin.
Reply With Quote
  #2  
Old 12/17/06, 9:28 PM
Bruce A. King's Avatar
Bruce A. King Bruce A. King is offline
InterNACHI Member
 
Join Date: Jan 2005
Location: York, SC
Posts: 3,381
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Paypal charges if you offer paypal via your web site.
Expenses for clothing.
The portion of your personal auto policy for business use of the auto.
(if you knew to list it as being used for partial business use)

Forget the cable TV its not a valid deduction IMO
Vehicle mileage but not mileage plus depreciation as I understand it.
Business meals do not include lunch each day, only when traveling for training or meetings.
The home office deduction is only allowed if the room is 100% business use only.
Reply With Quote
  #3  
Old 12/17/06, 11:26 PM
bkelly2's Avatar
bkelly2 bkelly2 is offline
InterNACHI Member
 
Join Date: Oct 2004
Location: Phoenix, AZ
Posts: 16,084
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Medical insurance
CEU's
work clothes
Reply With Quote
  #4  
Old 12/18/06, 12:13 AM
Justin Watts Justin Watts is offline
InterNACHI Member
 
Join Date: Nov 2004
Location: Rancho Santa Margarita, CA
Posts: 782
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Yes, forgot work clothes... boots, safety glasses, etc. Oakleys should count, since they are "safety" rated.

Thanks for the cable tv tip, I will stay away from that one....


Any more?????
Reply With Quote
  #5  
Old 12/18/06, 12:29 AM
David A. Nice David A. Nice is offline
InterNACHI Member
 
Join Date: Apr 2005
Location: Wauwatosa, WI
Posts: 1,696
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Quote:
Originally Posted by jwatts1
Yes, forgot work clothes... boots, safety glasses, etc. Oakleys should count, since they are "safety" rated.

Thanks for the cable tv tip, I will stay away from that one....


Any more?????
One needs to use care when including clothing. Every day clothing could easily be disallowed. If you buy favorate shirt to use as a uniform, it's best to buy at least about 5 of the exact same shirt at one time.



David Nice
Retired Member

Reply With Quote
  #6  
Old 12/18/06, 7:25 AM
Bruce M. Graham Bruce M. Graham is offline
InterNACHI Member
 
Join Date: Sep 2005
Location: Gainesville, FL
Posts: 2,437
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

I wonder if John O has a fax on his fishing boat can it then been written off?



http://www.nachi.org/forum/image.php?type=sigpic&userid=6376&dateline=1330979  258
Professional Inspection Services, LLC dba
1st Inspection Services
Bruce M. Graham III
Gainesville, FL 32608
352 871 8989
Florida Licensed Home Inspector #HI10
Certified Level II Infrared Thermographer
Radon Measurment Technician # R2279
NACHI05091592
ICC 5268478
www.1stinspectionsfl.com
www.bungalowstomansions.com
Reply With Quote
  #7  
Old 12/18/06, 10:19 AM
lkrausz lkrausz is offline
Active Poster
 
Join Date: Mar 2005
Location: High Ridge, Mo
Posts: 188
Please Note: lkrausz is a non-member guest and is in no way affiliated with InterNACHI or its members.
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Take the % of the house that the home office is and all the utileties and repairs are deductable, either milage or gal $'s, not both, computer, tablet, Pda, all dues such as NACHI etc.
Reply With Quote
  #8  
Old 12/18/06, 7:50 PM
Justin Watts Justin Watts is offline
InterNACHI Member
 
Join Date: Nov 2004
Location: Rancho Santa Margarita, CA
Posts: 782
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Great info. thanks!
Reply With Quote
  #9  
Old 12/18/06, 8:01 PM
gbeaumont's Avatar
gbeaumont gbeaumont is offline
InterNACHI Member
 
Join Date: Jan 2003
Location: Clearwater, FL
Posts: 6,255
Send a message via AIM to gbeaumont Send a message via MSN to gbeaumont Send a message via Yahoo to gbeaumont
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Hi to all,

I don't suppose that the alchohol that I am being driven to drink counts does it??

Regards

Gerry



"To realize our true destiny, we must be guided not by a myth from our past, but by a vision of our future."
(Mark B Adams)

Commercial property Inspection Tampa, Orlando, Sarasota, Jacksonville, Ft Launderdale, Miami, Florida.
NACHI cell 484-429-5466
NACHI02121106

Reply With Quote
  #10  
Old 12/18/06, 8:06 PM
David A. Nice David A. Nice is offline
InterNACHI Member
 
Join Date: Apr 2005
Location: Wauwatosa, WI
Posts: 1,696
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Someone correct me if I am wrong, but I thought the vehicle mileage allowance was instead of deducting gas, maintenance and repairs and had nothing to do with depreciation.

Since I use a personally owned (long paid for) vehicle I deduct the mileage rather than actual costs and come out ahead. Now that might be different if I could not deduct depreciation (or do a Ch 179) on a new vehicle.



David Nice
Retired Member

Reply With Quote
  #11  
Old 12/18/06, 8:42 PM
David A. Nice David A. Nice is offline
InterNACHI Member
 
Join Date: Apr 2005
Location: Wauwatosa, WI
Posts: 1,696
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Quote:
Originally Posted by gbeaumont
Hi to all,

I don't suppose that the alchohol that I am being driven to drink counts does it??

Regards

Gerry
No only the mileage from the liquor store to the inspection site.



David Nice
Retired Member

Reply With Quote
  #12  
Old 12/18/06, 9:07 PM
gbeaumont's Avatar
gbeaumont gbeaumont is offline
InterNACHI Member
 
Join Date: Jan 2003
Location: Clearwater, FL
Posts: 6,255
Send a message via AIM to gbeaumont Send a message via MSN to gbeaumont Send a message via Yahoo to gbeaumont
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Quote:
Originally Posted by dnice
No only the mileage from the liquor store to the inspection site.
Now that is funny (I think) good come back David

Regards

Gerry



"To realize our true destiny, we must be guided not by a myth from our past, but by a vision of our future."
(Mark B Adams)

Commercial property Inspection Tampa, Orlando, Sarasota, Jacksonville, Ft Launderdale, Miami, Florida.
NACHI cell 484-429-5466
NACHI02121106

Reply With Quote
  #13  
Old 12/18/06, 9:22 PM
David A. Nice David A. Nice is offline
InterNACHI Member
 
Join Date: Apr 2005
Location: Wauwatosa, WI
Posts: 1,696
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Quote:
Originally Posted by gbeaumont
Now that is funny (I think) good come back David
I missed my calling.



David Nice
Retired Member

Reply With Quote
  #14  
Old 12/19/06, 5:23 AM
Bruce M. Graham Bruce M. Graham is offline
InterNACHI Member
 
Join Date: Sep 2005
Location: Gainesville, FL
Posts: 2,437
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Gerry,
I think that is filed under entertainment expenses.
I have known some to write it as an office expense right along with the pop corn and candy bars for the office break room.
Back when I was a Remodeling contractor I went to a conferance, the speaker was talking about taxes and claimed that he would charge his company to store his "extra" art work at the office, at which time it would become an office expense.
Happy Holidays



http://www.nachi.org/forum/image.php?type=sigpic&userid=6376&dateline=1330979  258
Professional Inspection Services, LLC dba
1st Inspection Services
Bruce M. Graham III
Gainesville, FL 32608
352 871 8989
Florida Licensed Home Inspector #HI10
Certified Level II Infrared Thermographer
Radon Measurment Technician # R2279
NACHI05091592
ICC 5268478
www.1stinspectionsfl.com
www.bungalowstomansions.com
Reply With Quote
  #15  
Old 12/19/06, 12:35 PM
David A. Nice David A. Nice is offline
InterNACHI Member
 
Join Date: Apr 2005
Location: Wauwatosa, WI
Posts: 1,696
Default Re: Tax Write-offs NOT to Forget with Tax Season Approaching...

Quote:
Originally Posted by bgraham
Gerry,
I think that is filed under entertainment expenses.
But you have to be entertaining somebody other than just yourself.



David Nice
Retired Member

Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


All times are GMT -4. The time now is 10:08 PM.
no new posts