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#176558 - 04/06/08 09:54 AM
Tax Writeoffs - List
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electure
Moderator
Registered: 12/24/00
Posts: 3619
Loc: Fullerton, CA USA
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Tax time again.
Thanks to A-line . He is credited with this in depth checklist of writeoffs. He first posted it in 2004(?)
Anything that you can add?
Building Rent/Lease
Dispatcher
Property Taxes
Management Training
Office Training
Tangible Taxes
In-House Training
Building Insurance
Tech Training
Mfg. Training
Telephones
Training Equipment
Vehicle Maintenance
Travel
Utilities
Vehicles
Loans
Subscriptions
Inspections
Liability Insurance
Employee Insurance
Truck Racks
Toll Calls
Bonds
Pagers/Cell Phones
Ladders
Trips to Supply House
Safety Equipment
Radios
Licenses
Computer Maint.
Law Suits
Radio Maintenance
Printing
Software
Office Equipment
Vacation Pay
Copy Machine
Forms
Life Insurance
Holiday Pay
Uniforms
Accounting
Business Insurance
Workers Comp.
Trade Association
Wages
Salaries
Advertising
Tax Preparation
Stationary
Theft
Memberships
Fuel
Interest
Marketing
Pay Roll Taxes
Uncollected Money
Unbillable Hours
Commissions
Call Backs
Unemployment
30+ Day Receivables
Safety Training
Bonuses
Shortages
Equipment
Bad Checks
Inventory
Delivery
Christmas Party
Test Equipment
Dues
Replacement Parts
Parts Storage
Damages
Material Purchases
Tool Replacement
Truck Signs
Warehouse Space
Files
Company Tools
Bank Charges
Building Maintenance
Legal
Computers
Trash Removal
Incentives
Postage
Credit Card Sales
Drug Testing
Office Supplies
Uniform Maintenance
Retirement Plan
Retainers
Grounds Maintenance
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#176561 - 04/06/08 10:45 AM
Re: Tax Writeoffs - List
[Re: electure]
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KJay
Member
Registered: 11/27/07
Posts: 166
Loc: MA, USA
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I wonder if I could write off my golden retriever as a mascot.
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#176563 - 04/06/08 11:17 AM
Re: Tax Writeoffs - List
[Re: KJay]
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WireNuts29
Member
Registered: 07/24/07
Posts: 42
Loc: Mass, U.S.A.
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That list reminds me of the Seinfeld episode where kramer says to jerry its a write off, and jerry says who writes it off?, kramer says they do.that list leads me to believe that anything a buisness does, which is not a profit is a write off.
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#176582 - 04/06/08 10:25 PM
Re: Tax Writeoffs - List
[Re: electure]
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u2slow
Member
Registered: 09/18/03
Posts: 193
Loc: Salt Spring, BC, Canada
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Expanding on vehicle maintenance... I write off some shop and auto-repair tools.
I do my own repairs. I use the tools only for my work van.
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#176584 - 04/06/08 10:48 PM
Re: Tax Writeoffs - List
[Re: u2slow]
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macmikeman
Member
Registered: 07/16/02
Posts: 701
Loc: Honolulu, Hawaii
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For those of us living south of the Canadian border, and are subject to paying the IRS, then there are differences between capital expenses and deductible expenses. Some of the items on the A-line list are not actually accepted as deductable expenses by the IRS. Publication 535 from the Internal Revenue Service details what is a deductable expense and what qualifies as a capital expense. I bet the majority of us have CPA's doing our taxes for us, at least I should hope so. And your CPA should know the differences in the two types of deductables.
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Moderator: LK, dougwells, Trumpy, Scott35, Ryan_J, Roger, resqcapt19, renosteinke, pauluk, iwire, electure, C-H
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