Writing off gear?
Carlo Coggi wrote: I am an advanced amateur photographer and will be taking an 'extreme adventure' vacation this summer. A friend of a friend is editor of a well-known travel magazine who heard about my somewhat unique vacation and said that the magazine would be interested in seeing a spec article/photos about the trip. Business/Tax Question: 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? Hmmm, cross-posted quite a bit and not enough information to give a reasonable reply. But assuming your question is legitimate (not a troll), then my guess is that any tax savings are probably not worth the trouble. If you are not going to save enough to make hiring a good tax advisor worth while, why bother? |
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