What Can You “Write Off” With A Tech Business?

Posted Jan 15, 2009 | by Rich Menga  

“Tech Business” as it relates to this article is defined as using the internet as a means to supply income with your business. This can be thru the sales of online e-books and articles, use of eBay and so on.

A common question when it comes to tax time is “What can I ‘write off’ on my taxes?” The answer in simple terms is anything you spend money on used for business purposes.

The lines blur a bit when it comes to figuring out what counts as a write-off and what doesn’t.

Let’s take a look at what you can and can’t write off if you decide to run your own tech business.

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3 Responses to “What Can You “Write Off” With A Tech Business?”

  1. John DeBoever says:

    You still need to take into account your costs regardless if it can be submitted. I keep track of all of them and it can give you a good idea of your labor rate. I review them on a quarterly basis… you would be surprised at the hidden costs that are considered, “cost of doing business”. If you are good at what you do and are ethical, then you should get paid for it.

  2. Jason Faulkner says:

    Actually you can write off a portion of your power/water/sewer/internet/cell phone bills. It all depends on the percentage of your house designated for your home office.

    Just file using TurboTax Home and Business Edition and it explains exactly what you can and cannot write off.

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