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Money and Finances
Reply to "Self Employed-s - What do you write off?"
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[quote=Anonymous][quote=Anonymous]I'm new to the world of the "self employed". No employees besides myself. What I would like to know is what others write off? Which write-offs are worth the effort of listing them on your returns, and which are a waste of time?[/quote] Almost nothing that isn't obviously a business expense (e.g., buying a printer for the office that stays at my non-home office). While many people get super creative, you are begging for an audit, just begging for one, when you start to get cute with automobiles, shared spaces in your home that you swear are for "the business", and trips. Some people have aggressive accountants who play a very disciplined, risk-adjusted game, but I've had two acquaintances who really went too far and the IRS ate their lunch.[/quote]
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