Subject: Re: Writing off gear?
In rec.photo.equipment.35mm David Littlewood
> *In my case, 20 years as a tax professional in the UK. Though I have not
> practised as such for a few years, the basic principles in this area do
> not change much. Nevertheless, I only offer it as general guidance. Tell
> us which country you live in and you may get some more specific advice.
He posts from Road Runner in New York City or the vacinity ... so your answer
is the US I believe. Either way, if you bought the camera for personal use
and plans to use it for personal uses after his extreme adventure, then
basically a very very small portion of the camera would apply for business
use. In general, I advise not trying to dodge the IRS for a couple of extra
bucks. What is the most you can save on a 30D and accessories? At a 20% tax
rate you might save $400? Is that worth forming a company and risking the
wrath of the IRS because of its pseudo legitimate nature (if the system was
used 5% of the time for business in practice, then that is only $20!).
Thomas T. Veldhouse
Key Fingerprint: 2DB9 813F F510 82C2 E1AE 34D0 D69D 1EDC D5EC AED1
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