For the Uncle Sam Tax questions...

Discussion in 'Lets talk Business!' started by Matt Wood, Apr 13, 2018.

  1. Matt Wood
    Matt Wood

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    My question is:

    I put about 1hr/week of mainetence and prep on my machines to get ready for Monday. That adds up to 52hrs/year. Can we write that off as an expense, and if so, how do we list it?
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  2. Papa John
    Papa John

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    Not if you are a sole proprietor.
    If the biz is a corporation and you are an employee, then yes. It would be part or your pay.
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  3. Cleanworks
    Cleanworks

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    You might want to ask a tax specialist instead of a carpet cleaner.
  4. Matt Wood
    Matt Wood

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    I'm doing that also. I just figured I'd ask you guys, if any of you do it.
  5. Papa John
    Papa John

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    I was audited by the IRS. I learned alot.

    I highly doubt I'm wrong-- but wouldn't be the first time.
    Good luck
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  6. jcooper
    jcooper

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    No.

    If you paid to have maintenance done(someone else) then, yes. Deductible.

    You can deduct all the supplies, oil, filters, etc. to do the maintenance, if you do it.



    Basically what John said.
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  7. Matt Wood
    Matt Wood

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    Thanks. I’m certain you guys are right. Someone told me that several years ago, and I didn’t really care much about doing it, until the thought just recently came to mind
  8. scottw
    scottw

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    If you pay yourself to do the maintenance, then you can deduct it. But you also have to report the income you made getting paid for doing the maintenance. However, you figure it, it all washes out to even.

    But for some circumstances, it can be a good way to transfer income to a member of the family who is taxed at a lower rate (think instead of allowance, I pay the kids for actually doing some work.) This can also income shift to a spouse for purposes of establishing income for social security purposes. Need to look at the big picture, ages other income and so forth to see if this is a beneficial approach.
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