tax deductions for freelance graphic designer?
i am a freelance graphic designer, i want to know if the following qualify for my business expenses 1. Playstation 3 Gaming System and games 2. Time...
i am a freelance graphic designer, i want to know if the following qualify for my business expenses
1. Playstation 3 Gaming System and games
2. Timewarner Cable triple play subscription
3. iPad
4. Netflix subscription
MAYBE the iPad, but you’d have a very hard time getting the others past an auditor. You can try it, but don’t be at all surprised if you get flagged fro an audit. Those really aren’t the big deal most people make them out to be (as long as your documentation is complete and correct), but just be prepared with a good argument for them. The only way you can write them off is to be able to prove they’re directly necessary for your job. If they disqualify the deduction, you pay the extra tax on that amount and possibly interest. It may be that they don’t look that closely at your return and it doesn’t get noticed.
The main thing to ask yourself is if the time involved in the audit, should your return get flagged, is worth the tax savings.
To the extent that you use them for work, then maybe. But as you use them all for personal use, no.
BTW, no way is a Netflix subscription ever going to be deductible.