Writing a tent off .....?

Question

I have my own webshop and and a few times a year I do conventions/events and I recently bought a party style tent with the business card. My husband says I can't do that and the government won't see it as relating to the business but I say he is wrong!

I mean if I am doing an outdoor event/convention... I would much rather be protected and out of the sun or RAIN so I think it was a good investment.

What do you think? Is he right in saying I can't write this off or what?

Thanks!

Answer 1

If you can justify it as a business expense, then it is one. No one knows your business like you do and you should be able to legally write it off.

Answer 2

Yes it's a business expense and YOU CAN write it off!

Answer 3

If you bought the tent for your business, you can write it off.  This is very common for people that sell, market, or work in outdoor festivals, fairs, etc.  This is a legitimate write-off.

Answer 4

You can write it off as long as it is used for business purposes. If youre self employed, it will come off your profits and loss statement as an expense item. If not, you could take it as a schedule c deduction, but you will be limited to 2% of AGI.

Answer 5

Absolutely you can write it off!  If you bought it for business related events and you use it for that purpose, it's a business expense and fully deductible.

You might need to depreciate it (which you can now do in a single year...) and you should keep documents from the events in case you need to explain what you use it for in the unlikely event of an audit.

You need to spend money to make money, and the money you spend cuts down your profit. Advertising and self promotion are legitimate deductions to your income. As a business owner you pay taxes on your profit, not on your gross income.

Answer 6

If it's actually used the way you say, I think it would be a business expense.