914's and taxes, how do I write off my a/x car? |
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914's and taxes, how do I write off my a/x car? |
Trekkor |
Dec 9 2004, 11:53 PM
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#1
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I do things... Group: Members Posts: 7,809 Joined: 2-December 03 From: Napa, Ca Member No.: 1,413 Region Association: Northern California |
I "sponsor" myself. I have permanent advertising on the car for my business.
How do I legally write off my car as a business expense. Or am I just entitled to the cost of the window banner? What do the big sponsors do? (IMG:style_emoticons/default/confused24.gif) KT |
anthony |
Dec 10 2004, 06:55 PM
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#2
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2270 club Group: Benefactors Posts: 3,107 Joined: 1-February 03 From: SF Bay Area, CA Member No.: 218 |
If one works for themself I'm sure there are plenty of ways of not declaring income and cheating the government - like doing a job for cash, etc. Trying to declare your hobby as a business expense just sends up a big red flag to the IRS. If you are going to cheat then cheat so you don't get caught. My buddy who is self employed "cheats" by turning personal expenses into business expenses. For example, when his kid needs a new computer, the business buys a computer on the business' account.
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