What do you run through the business?

[hakuna]

Hi All,

Just curious about what things I should or shouldn't run through the business for tax purposes. First off, I'm a sole proprietor, so that makes things different from you LLC's I think.

So, NRA dues? Gun Club dues? Personal reloading supplies like powder, primers and bullets? Accessories for personal guns? Accessories for guns that are in my inventory but not personal collection (again, I'm a sole proprietor so in the eyes of the taxman I'm not sure they will distinguish)?

I'm thinking the home office type rules might apply but I do a lot of "business" when I go shooting for "fun"....actually everytime I go shooting for fun I end up doing business whether I want to or not, LOL.

I'm not asking tax advice or legal advice. I was just curious how any of you smaller FFL's like me handle it.

Gary

[acespawnshop]

In my humble opinion. Everything I do is business related.....(-:

[ugimports]

Hi All,

Just curious about what things I should or shouldn't run through the business for tax purposes. First off, I'm a sole proprietor, so that makes things different from you LLC's I think.

So, NRA dues? Gun Club dues? Personal reloading supplies like powder, primers and bullets? Accessories for personal guns? Accessories for guns that are in my inventory but not personal collection (again, I'm a sole proprietor so in the eyes of the taxman I'm not sure they will distinguish)?

I'm thinking the home office type rules might apply but I do a lot of "business" when I go shooting for "fun"....actually everytime I go shooting for fun I end up doing business whether I want to or not, LOL.

I'm not asking tax advice or legal advice. I was just curious how any of you smaller FFL's like me handle it.

Gary

If you're unsure get an accountant that will help with your taxes. They can give the best info. I normally run as much as possible through mine. Almost anything shooting related can be business related. Even some non-shooting related. For example, if you take a "vacation" to Las Vegas, but while out there are doing some research at the local shooting ranges, it could be a business trip. You may be the type of business that provides meals to your employees when they work late at night ala Google. Those meals can be expensed as part of business expenses.

All comes down to accounting and I am definitely no expert