View Single Post
Old 05-30-2010, 11:09 PM   #1
chato de shamrock
Zilvia Junkie
 
chato de shamrock's Avatar
 
Join Date: Feb 2009
Location: L.A.
Posts: 329
Trader Rating: (1)
chato de shamrock is an unknown quantity at this point
Tax break for fixing our 240s?

Any of you guys out there have some knowledge on taxes?

My boss handed out 1099s this past tax season instead of the regular W2s. The city caught on and I was forced to file business taxes cause i fall under the description of working for myself, or independent worker/contractor. Because of this I can report certain expenses such as gas and my lunch food as a business expense and get some sort of tax break on next years tax season. At this moment, and likely for the remainder of this year, I'm going to daily drive my 240. I had plans to do some work on the car. Just last month I bought some coilovers and plan to make a few other expenses (RUCAs, tension & traction rods, wheels, etc) later this year. Anyone know if coilovers, wheels, tires, toes, RUCAs, etc. purchases would fall under the category of business expenses since i'm using my 240 in my work? OR would only certain things qualify such as wheels and tires since they might be a part of maintenance to the car?

By the way, I'm from So. California. I'm not sure if things vary by city and/or state.
chato de shamrock is offline   Reply With Quote
Sponsored Links