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Claiming expenses on your taxes
Can you claim expenses if you don't actually have a business license? May 28 06 11:45 am Link I live, work and pay taxes in the UK (although I am actually Japanese). If you have business income, as well as or instead of employee income, then it is legitimate to make deductions from your taxable income for legitimate expenses. As a member of Equity, I deduct make-up, professional costume, certain magazine subscriptions, and lots of other things. May 28 06 12:33 pm Link You should consult your tax accountant, but a business license typically means you can own and operate a business in that particular city. They don't ask you on your taxes what your business license number is, or with whom it is with... I have deducted expenses as an independant contractor, but I have business cards, a website, and an income. You have to show that this is a business not just a hobby to deduct. I would say it's better to have one, but not a necessity, but do check. Also the IRS puts out brochures for small businesses and deductions to help you understand the laws. May 28 06 12:40 pm Link Yes. A business license is a local municipal or county requiremt, not a Federal or IRS requirement. You might have a problem with local authorities, bu not the IRS. Several years ago I knew a guy who called the police to report a burglary in his place of business. He did not have a business license, so when the police officer asked about it he ended up with both a burglary and a fairly significant fine. So a business license is a good idea. May 28 06 12:46 pm Link I know most of my model friends deduct clothes and makeup. May 28 06 12:46 pm Link Christopher Brady wrote: Yes. May 28 06 12:53 pm Link |
