DC Toys/Supplies As Write-Off

[sammys]

I am very new to this,

I was wondering if I am going to use write-offs for the toys and supplies, do I have to purchase new (so I have proof w/ receipt) or can I buy used and still write-off?

[melilley]

You can write it all off, even garage sale, cl, thrift stores, etc.. stuff!
I've been told to try to get a receipt from the seller and also take a pic. of the item(s) that you buy. If you can't get a receipt, write down the cost and take a pic.

If you get your license by Jan., Great Start/OYC is having a class on taxes! I'm not sure if you can take it if you don't have a license, but you could always call and ask. I'm going to take it and hopefully it will answer the tons of questions that I have!

[sammys]

Oh awesome, thanks! I will look into that right now

[MyAngels]

You should get Tom Copeland's books. Taxes in this situation are very unique and his books cover it all.

[TomCopeland]

I am very new to this,

I was wondering if I am going to use write-offs for the toys and supplies, do I have to purchase new (so I have proof w/ receipt) or can I buy used and still write-off?

You don't have to buy things new to deduct them as a business expense. Here's an article about how to keep records when purchasing used items at yard sales:http://www.tomcopelandblog.com/2011/...purchases.html

[sammys]

How do I get your books? I could definitely use them!

[TomCopeland]

Tom's Books

How do I get your books? I could definitely use them!

Here's a link: http://www.tomcopelandblog.com/toms-books-.html