Wednesday, May 27, 2015

"That's* a Business Deduction?

In no particular order, here are things I've claimed as business deductions lately. Just to give you an idea of what can be done (reasonably and legally). I put these out there to show you what you can be done and to get you thinking fully about your business expenses.

A writer's retreat weekend

Food, lodging, and car rental. Since I also write professionally, have published, and will continue to publish I claimed this as a "business retreat". I also claim all income from writing.

BTW, wonderfully productive weekend! Finished 3 (of the 8) books that were on my almost-finished list. One has been sent on to editing, two returned to my co-author for approval. It really does help to just get away from home sometimes.

I will be claiming the cost of editing as a business expense.

Uber and Car2Go

These two rideshare / taxi alternatives are very popular here in DC. Those times I just don't feel like walking home from a gig, I use them. Since I'm travelling from a business location to my home office, they qualify.

Non-monogo-what? workshop

The place I now practice -- Freed Bodyworks -- hosts workshops in all manner of interesting things. This workshop was an introduction to polyamory (non-monogamous relationships). Since Freed Bodyworks specifically includes the poly community in their outreach, I attended this workshop with the "business" intent of understanding the community and learning the vocabulary it uses. It was an educational expense.

Yelp discount

About a year ago I decided to offer a special "75 minutes for the cost of 60" deal on Yelp. I have had two people use it. The difference between what the client paid and what they would have paid was a "discount" expense. I have to claim the would-have-been amount as income before I can claim the discount as an expense.

Membership in (and mileage to) a writing space

There's a neat little biz here in DC called Cove where you can get access to a quiet space for writing and work on an as-needed basis. It's perfect as a place to get away to when I'm not getting any work done at home. More than a coffee house but less than a formal co-working space. I go there to work on my ebooks, my business workshops, etc. Since I joined with a business intent and primarily use it that way, it's a business expense.

Thai, reflexology, hot stone, healing touch, and other bodywork

I joined Freed Bodyworks in March. I have received 1-2 treatments from almost everyone who works there. My intent was to experience their bodywork so I would know how best to refer clients when necessary. Business expense.

Tea with another massage therapist

I met with another local MT to talk about how easy or difficult it was to operate a home-based practice in my part of the city (she's doing research for a business plan). We also talked about e-publishing (and she joined me on the writers retreat weekend!). The cost of the tea and the mileage to/from the meeting was a business discussion.

Note: there are some non-intuitive rules around when you can and can't claim meals. Take a class with Margo Bowman or talk to an accountant to be clear on this.

Lights for my bike

I talked to my accountant about this first. I wanted to ride my bike to/from work more often but didn't have lights. Since my primary purpose in buying the lights was work-related, she said I could take them as a business deduction.

Now I need to find out if I can deduct the cost of the new bike I had to buy last month when that other bike was stolen soon after I bought those lights!

A talk-therapy session

I have an ongoing relationship with a holistic psychotherapist. Every now and then I will use one of the sessions for supervision; that is, to talk about issues specifically related to work or clients. Those sessions (and the associated mileage and meals) are a business deduction.

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