Subject: Re: Writing off gear?
Carlo Coggi wrote:
> Two months ago I sold my Canon 10D and bought a 30D and some related
> camera gear. If my photos and text are accepted for publication, can I
> then form a sole proprietorship or corporation and *retroactively*
> write-off the cost of my gear and trip?
It depends where you are and what the tax code says.
Here (Quebec) you can incorporate and transfer used capital equipment
declared at a reasonable market value on the day of incorporation and
then depreciate that value at 20% per year (for 5 years) as long as it's
in the company.
For registered (non-incorporated) entities I'm not sure.
Travel costs under any business are costs, period.
For any of the above to be useful, you have to make more money than
expenses, of course.
Forming a company for the sole purpose of avoiding personal taxes is not
View All Messages in rec.photo.misc
Writing off gear? =>
Re: Writing off gear?
Copyright © 2006 WatermarkFactory.com. All Rights Reserved.