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The day I tried to write off my chainsaw as a home office expense
So last month I'm sitting down to do my quarterly estimated taxes, right? And I'm staring at this pile of receipts from my tree service business... chainsaw sharpening, fuel cans, a new pair of steel toe boots. I got this wild idea that maybe I could slip my personal chainsaw in there too since I used it once to prune a branch near my window. My accountant laughed at me over the phone for like 5 straight minutes. Has anyone else tried to bend the rules on equipment deductions and got called out?
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xena_hernandez9813d ago
Did you actually use that chainsaw more than 50% of the time for business though? Because if you did, you might be able to write it off as a real tool expense, just not a home office one.
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the_felix13d ago
Yeah exactly, the key is just being honest about the split. If you used it more for business stuff, you can write off that percentage no matter where you store it.
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