View Single Post
  #9  
Old 03-05-2007, 12:43 PM
ALawPoker ALawPoker is offline
Senior Member
 
Join Date: Jul 2005
Location: Rochester, NY
Posts: 1,646
Default Re: Tax write-off question

[ QUOTE ]
Your father most likely is correct, but it is +EV to write them off anyway. Your risk of an audit is very small and you have an argument that the sunglasses were purchased for work; even if the IRS disallowed the deduction (highly unlikely that you would have to substantiate the deduction in the first place), you would just owe the tax and some interest and possibly an accuracy related penalty.

[/ QUOTE ]

Ya, this is a good point and something along the lines of what I was thinking. It's not as if I'm getting locked up if the IRS doesn't agree with the write off. The only problem is, my Dad is an ethical man. I don't have the same respect and regard for "the system" as he does, so personally I have no problem cheating it. But in my exact case, I might be better off just eating the cost than trying to convince my Dad to do something he is not OK with. Having an accountant who I trust (and who doesn't charge me) is a pretty sweet deal anyways.
Reply With Quote