WEB What kind of things did you guys write off for taxes??

Discussion in 'OT Technology' started by Chau, Apr 7, 2008.

  1. Chau

    Chau if i wanted to kill you, i would've come in here s

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    for those of you who run sites w/ a large income, what kind of stuff did you guys write off for taxes?

    trying to think of more, but what ive done so far the last few years:

    -laptop/pc purchase
    -router purchase
    -scanner purchase
    -cable internet bill (% of home office to home)
    -home office / rent (% of home office to home)
    -electricity (% of home office to home)
    -web hosting
    -domain name
     
  2. G.R.O.S.S.

    G.R.O.S.S. New Member

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    advertising costs
     
  3. JesterFX

    JesterFX New Member

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    - phone/cell phone?
    - work related meals?
    - content?
    - services?

    I wrote off everything lol. -22,000 on paper ;). I actually cut back on most of it so it didn't look too fishy...though 98% were legit writeoffs.


    chau, what percentage of your rent/utilities did you write off? I didn't have to use it but was planning that as a backup lol. But from what I heard the way you figure it is whatever percentage of square footage your "office is" is the percentage you can write off. Thankfully I do a lot of my work in the living room in front of the big screen lol.
     
  4. Chau

    Chau if i wanted to kill you, i would've come in here s

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    yeah, i did % of work area to total area.. my apt is only 670 sq ft, and my desk area is about 10x10, so i did 100/670 = ~14% :o i only wrote off rent, electricity, and cable. was gonna do water/trash/sewer too :rofl: but it wont be much anyway so im gonna leave it off :o
     
  5. G.R.O.S.S.

    G.R.O.S.S. New Member

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    Yeah its % based but it has to be an area used for work and only work.

     
  6. Pepsi1975

    Pepsi1975 Mod of the Year

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    just like if you write off the computer, it has to be for work only, no games or what not on it, but it is rare for you to be audited over it, but it can happen
     
  7. G.R.O.S.S.

    G.R.O.S.S. New Member

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    a big audit flag is a lot of deductions for dining (business based expenses of course)
     
  8. lolrolf

    lolrolf Guest

    Can I write off stuff before my business was officially (registered with the state) created? aka, hosting, domain name, the actual business registration fees itself?
     
  9. G.R.O.S.S.

    G.R.O.S.S. New Member

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    yes
     
  10. rwdftw

    rwdftw Guest

    any of you guys try to write off your vehicles? i.e. put a big sticker on them and call it a marketing expense.
     
  11. Logik

    Logik Livin la vida broka

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    yeah, you'll prolly have to amortize for the time though
     
  12. Vtec44

    Vtec44 OG!

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    Only a portion of it, but not completely unless that vehicle is used only for business traveling.

    We have a LLC so we wrote off quite a few things, but also made several big purchases and they depreciate them in 5-year length. Writing off a portion of your house is also a red flag for auditing, as far as I was told by our CPA. Most of the stuff I wrote off this year are for equipment, hosting, and advertising.
     
  13. Vtec44

    Vtec44 OG!

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    I believe that falls under cost of business start up, so it's a yes from what I remember.
     
  14. thomor25

    thomor25 I make money online....

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    Location:
    Denver Colorado
    -all computer related purchases
    -cable internet bill
    -home office / rent 1/4
    -electricity 3/4
    -water/sewer as I need a place to shit at work if I work from home
    -fishtank in my office thats on my desk
    -standalone ac unit I go tfor the office cause its gets so hot sometimes
    -all server hosting bills and domain account refills
    -advertising on my one car
    -all business meals or meals where I talk business
    -all paypal from ebay buys for business stuff
    -desk, office furniture
    -airfaire, hotel stays, food while on trips, car rental expenses, gas.
    -money I pay my lawyer and accountant
    -cellphone bill
    -programmers
    -programs and software
    -stuff I contract out

    Its fun when you can write off this
    [​IMG]
     
  15. Ricky

    Ricky █▄ █▄█ █▄ ▀█▄

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    :rofl:
     
  16. lolrolf

    lolrolf Guest

    I want to write off an iphone , business only of course. :o
     
  17. rwdftw

    rwdftw Guest

    hah Thomor is using an image I posted for his background:eek:
     
  18. THE mister juice

    THE mister juice jfk→sea

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    internet
    "misc."
     
  19. sg_lurker

    sg_lurker Winter is Coming

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    anybody know how i can report someone so they'll get audited? :x:
     
  20. Chau

    Chau if i wanted to kill you, i would've come in here s

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    wtf
     
  21. G.R.O.S.S.

    G.R.O.S.S. New Member

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    if you want to get audited as a sure thing, then yes.

     
  22. sg_lurker

    sg_lurker Winter is Coming

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    :wavey:
     
  23. Jesse

    Jesse PSN: iamajesse; XBL: Inhale My Rod; G8 GT crew; Ne OT Supporter

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    Could be the earthmap wallpaper program which changes depending on the actual time.
     
  24. gobbles

    gobbles .

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    so say I do work in my dorm room. . . and my desk is about 4x2, and my room is . . . pretty small, what do I do? Does this even count as a living space?
     
  25. airbball23

    airbball23 Rent this Space only $5/mnth

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    do you need to register as an LLC to writeoff business expense? what if i do affiliate marketing but don't have an llc?
     

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