Deduction of Home Theater as a hobby? (1 Viewer)

[Nathan*W]

Now it sounds like a real job

A REAL JOB??!! BLECH!!

 

[Bill Catherall]

Thanks Dennis! My wife sells Mary Kay (make-up and skin products) so she fills out that Schedule C every year. I never thought of it before, but I guess she does deduct the make-up she uses for herself. I just started up my business so I haven't had to fill one out yet. I'll be tracking my expenses of course, but if I can claim my own hobby expenses (new TV, receiver, speakers, amps, whatever...for myself, not business) then I'll track those too and see what it does for my profit next year when I do taxes.

 

[JamesMH]

Wow, deducting hobbies, deducting toilet paper next.
I think there should be no deductables allowed for anyone, ever, doesn't matter for what reason. Only swindlers and crooks end out on top. Its simple, the more you deduct, the more people have to pay in taxes, so they deduct as much as they can.
The government will get what money they want in the end, it'll all add up to the same amount eventually.
Oh, if you have children, you should pay more taxes, not less.