Jared Eason
Elite Cafe Member
I assume classes like GRS are tax deductible. My question is if I pay to take private lessons from a master. Would that also fall in the ( school) tax deduction bracket as well?
Question: engraving lessons/classes..
- Thread starter Jared Eason
- Start date
Haraga.com
~ Elite 1000 Member ~
If you are an engraver chances are you won't need the tax receipt.
Jared Eason
Elite Cafe Member
Why wouldn't I need the receipt ?
Lack of income comes to mind Jared.
Jared Eason
Elite Cafe Member
Lol. Thought that's what he meant .. I work a fully time job now and want to take some sort of class to help expedite my dream to be a full time engraver / artisan .. and all the cash I spend now can help me on my taxes.
Roger B
Elite Cafe Member
This will be something for you to check out personally but here in Oz unless you have already had the business set up and earning from it and not just preparing to go into business the training and equipment purchases will be treated as a hobby and will not be deductable.
Roger
Roger
Jared Eason
Elite Cafe Member
From my experience in the past as a sole proprietorship if you sale anything for money its considered a business . I was just asking about private lessons because I did not know if a school deduction expanded outside of an institute . GRS would probably be considered an institute . So would fall under that .
GRS might know the answer.
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Jared Eason
Elite Cafe Member
I plan on talking to my tax person. And good idea about calling GRS . Just wanted to see how others handled private instructions with there taxes. It is money spent on furthering your business I would believe. I read a post that Sam A had posted on his thoughts about engraveing and beginners . He said deduct everything.
Mike Cirelli
~ Elite 1000 Member ~
If you have your own business and file a long form, everything should be deductible. Travel, food, lodging and lessons. Would be the same if you went to FEGA convention or anything that pertains to your business.
Brian Marshall
~ Elite 1000 Member ~
Therein lies the key. "If you have your own business"...
Dunno how it's done in Mississippi, but out here on the west coast you need a few things before you are considered a business.
A business license, use permits, zoning variances, sales tax numbers, bank accounts (checks & credit card acceptance), FFL and all the rest of it - comes first.
THEN you get to take the deductions... maybe
Brian
Oh yeah, you'll also be needing a few tools, a safe - if you are going for the FFL, a secure place to do it, cards, website & other advertisement, and a customer or two who is NOT a family member.
And once you do all that - and have paid for all that other stuff - you may get lucky enough to have enough time & money leftover to figure out which kind/color of beans you'll be eatin' the followin' week...
Dunno how it's done in Mississippi, but out here on the west coast you need a few things before you are considered a business.
A business license, use permits, zoning variances, sales tax numbers, bank accounts (checks & credit card acceptance), FFL and all the rest of it - comes first.
THEN you get to take the deductions... maybe
Brian
Oh yeah, you'll also be needing a few tools, a safe - if you are going for the FFL, a secure place to do it, cards, website & other advertisement, and a customer or two who is NOT a family member.
And once you do all that - and have paid for all that other stuff - you may get lucky enough to have enough time & money leftover to figure out which kind/color of beans you'll be eatin' the followin' week...
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Jared Eason
Elite Cafe Member
Thanks guys. Guess this is a question for a tax professional in my state to answer .
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