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-   -   Business owners: How far do you push the limits with "business" expenses? (http://forums.pelicanparts.com/off-topic-discussions/424525-business-owners-how-far-do-you-push-limits-business-expenses.html)

peppy 08-11-2008 09:32 AM
My business can't afford P-car parts.

LeeH 08-11-2008 10:21 AM
Quote:
Originally Posted by onewhippedpuppy (Post 4113530)
Isn't that why you own your own business?;) Call me immoral, but I see no issue with pushing it as much as is sorta-legally possible. The way those SOBs in Washington irresponsibly spend our money, I see no reason to give them more.
I agree with the CPA I used to work for... when it comes to what can be written off there are areas of black, white, and gray. Gray is fine as long as you're prepared to lose it in case of an audit. It's the folks who insist on running clearly personal expenses through the business after being told to stop that get to me. That $300 charge to Chuck E. Cheese around the time of your kid's birthday is NOT going be considered a business expense by the IRS!

trekkor 08-11-2008 08:12 PM
Quote:
Originally Posted by ZOANAS (Post 4113435)
Trek, you should reverse the window sticker, I can't read it in my mirrors! :D

Oooohhh! Low blow!:D


KT

Mr.Puff 08-11-2008 08:22 PM
Quote:
Originally Posted by LeeH (Post 4112296)
I do bookkeeping/accounting work for quite a few small business using Quickbooks. I'm always amazed at what I see people trying to run through their companies. I usually tell them the rules, but in the end if they tell me something is a business expense it's between them and the IRS. How much do you push it?
:P You are supposed to agree with your clients 49% of the time ;).

Mr.Puff 08-11-2008 08:29 PM
Quote:
Originally Posted by svandamme (Post 4113539)
thinking like that, you should check your family tree for Belgian ancestors/blood
might be a bit diluted, since our statement would be, push it as much as you can get away with it... which makes sense in a country with the highest income taxation worldwide
The IRS also happens to be the best at collecting taxes ;). Some countries actually have undercover agents that patrol the streets asking to see peoples receipts after a purchase. Those countries are hurting :D.


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