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?
|