Audio tax write-off


Hello,

I have a company that produces documentaries and podcasts on personal and commercial histories. I have needed to acquire computer equipment to do my work, and I've borrowed some equipment from my 2-channel system, such as headphones, as well. My question is, do any of you write off home audio audio acquisitions for your business? Do you know the tax rules on this? Does it have to be branded  as "pro" gear to qualify? Thinking I need a better DAC and studio monitors. If I bought a component called "Schiit," would the tax auditor go "nnnnnnnnnnoooooo?" 

Thanks for your input.

Paul


paulburnett

Showing 1 response by ejr1953

For the 21 years I had my business I did not write off the "office in the home", though it was 100% legit, as it would have figured into the "basis" when calculating the capital gains on my home and its equity.

Having said that, I did write off the purchases I made for business purposes, like computers, monitors, printers and supplies.  As well I wrote off a portion of my internet and cell phone bills.

The one thing I didn't do was to have a "company car", as my CPA advised that it was a "red flag" if I claimed over 25% as a "consultant", so instead I logged my business mileage and wrote the actual miles at the rates for those years according to the IRS standards.

It sounds like the items you are asking about for your taxes are "legit".  But I'd say it's best to bounce that off your tax advisor.