Discussion in 'Classic Menswear' started by HansderHund, Jul 27, 2012.
Dude, it's rare anything I do won't be a business expense.
For those of you that are actually a legit business, what types of things are you actually able to write off? I'm thinking that I need to register this as an official business because to pay taxes and save my ass if I ever got audited, but I'm worried about losing a few grand to taxes and only getting like $100 back in write-offs.
2nd case decided in the buyers favor and 2nd time after calling ebay they said they made a mistake and would reverse the decision and give me a refund after the item arrives back. To note, when there is a NAD case opened and I feel I am in the right, I always call and speak with an ebay rep to get there opinion and ask them to mark the file. If I get a "well maybe the buyer has a point" I just issue a refund no questions but if I get "I have no clue why they have an issue" I let the case ride out. Both times an appeals rep reviewed the case's and said the buyer should not have received a refund as the items were described.
The second case was for a "HICKEY FREEMAN for Bobby Jones Solid Black Wool Blazer Sport Coat Jacket US 40 R". The buyer complained that there was no "hickey freeman" label as they were giving the item as a 'gift' and needed the label... whatever the case the org ebay rep who decided in the buyers favor decided the 'title was confusing' but the appeals rep said it was not confusing and that obviously the Bobby Jones label was show in the listing and the tailoring was done by hickey freeman exactly as described and will be refunding any $ and removing any feedback for the item
I don't have a business set up, but I pay taxes. You should get a 1099 from paypal (if you are not a business it goes under you SSN) and just add it to your income. Keep a list of any expensive and submit that as well to your accountant.... at least that's what I do.
Tons of shit, such as a % of your mortgage based on the square foot of your office if you have a legit home office. Refer to the link below.
You can expense the percentage of your utilities proportionate to the size of your home office/storage in relationship to your home.
Mileage is a big one.
Office supplies (Boxes, bags, tape, labels, printer ink.)
Equipment (printer, laptop, any invnetory or tax software)
Internet service at home and on cell phone.
Cost of goods
Hotel stays and food for out of town thrifting trips
FTFY. You cannot deduct your Mortgage (I wish), but you can deduct the Interest.
Holy shit, so basically everything? It sounds like you are probably paying less even with the taxes on the income, than if you just payed everything out of pocket and didn't write it off?
That's the whole point.
I've been trying to convince my girlfriend that we'd actually be making more as a business but she's still unconvinced, even with that logic...Maybe if I say that we can write off thrift-cations to California then she'll be on board.
...the kinda car you need if you're gonna raid a millionaire's closet... can't be showing up in a Yugo.
Increased travel efficiency.
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