[HUG ] SV: Re: SV: Re: On the subject of equipement cost

Sure, this is very similar as over here.  But here in Norway I am only an 
ordinary employee with no possibility to deduct any 'hobby expenses' from my 
income.  

But my wife and I own a forest estate in Sweden.  This is reckoned as a 
'business' according to Swedish tax rules.  We have to make a tax declaration 
every year, declare income, deduct expenses, VAT paid and VAT charged.  We have 
a depreciation plan where we depreciate any large investments done during the 
year, like machinery, tools, protective clothes, roads or plantings - and pay 
32% tax on any profit.  Running a forest estate like this is indeed a tax 
planning exercise.  But sorry, no photo equipment can be deducted.  And there 
is no discussion!  Swedish tax authorities are very strict and the rules are 
very specific; it got to be very 'forest industry related'.    

Tom of Oslo

> From: Gary Todoroff [datamaster@xxxxxxxxxxxxxxxxxxxx]
> Sent: 2008-10-16 04:55:19 CEST
> To: hasselblad@xxxxxxxxxxxxx
> Subject: [HUG ] Re: SV: Re: On the subject of equipement  cost
> 
> You are in business in the US if you engage in financial activity 
> with the intent to make a profit. The same rules apply whether you 
> are a multi-million dollar company or an individual who loses money 
> most of the time. The IRS "guidelines" stipulate that you should show 
> a profit for some years, but I don't know what is the exact number of 
> years. Tax LAW, last I heard, did not specify that you had to always 
> make a profit, although numerous years of losses could trigger an IRS 
> audit. In any case, the tax laws were made for the big guys, but the 
> little guys get to play by the same rules. There is absolutely 
> nothing shady about taking whatever deductions you are entitled to by 
> the rules, as long as you are not fraudulent in your declaration of 
> income and expense. That is the difference between tax AVOIDANCE and 
> tax EVASION.
> 
> What I really hate is the smug attitude of someone who has always 
> collected a paycheck who says to the businessman, "Can't you just 
> write it off?" That is money out of your pocket, no matter what the 
> expense. A write-off is money spent, plain and simple. If you can 
> justify it as a business expense, however, some or all of it can be 
> deducted from the profit of your business on which taxes are paid. An 
> expense as large as the stratospheric cost of a Hassleblad these days 
> would probably need to be put on a deduction schedule, in which you 
> can only show a portion of the overall expense over a few years. In 
> these digital days, you may not be able to actually deduct all the 
> equipment expense from your profit until long after the equipment is obsolete.
> 
> In any case, I'm neither a lawyer nor an accountant. All the money I 
> give those gusy to keep up with the insane rules, however, is a 
> business tax "write-off", and an absurd waste of money that I would 
> much rather keep in my pocket!! If you are not filing an IRS Schedule 
> C these days showing profit and loss for some kind of business, then 
> just kiss your paycheck money goodbye as it takes wings toward the 
> bottomless pit called Washington, D.C.
> 
> Gary Todoroff
> 
> 
> 
> >>In the USA, You must be trying to run a business.... with verifiable
> >>"things" that you do to maintain a business....  Then and only then can you
> >>deduct your costs.... and yes, from your other income if it is a loss.
> >>
> >>Buying a $75K Hasselblad or Leica S2 system, taking it off the taxes and
> >>then doing absolutely nothing to actually run a business  ( real
> >>advertising, some jobs, maybe a few customer meetings) will get your
> >>deduction dumped if you get audited.
> >>
> >>The trick it to run the business at a zero, or, better yet, $1 profit a
> >>year.... and then run it forever......  Then you can buy a $75 Blad system
> >>and they can not complain...... as long as you can show you used the
> >>equipment in earning the revenue.......
> >>
> >>I think our Tax guys are more intolerant.........than the Canadians......
> >>
> >>
> >>Frank Filippone
> >>red735i@xxxxxxxxxxxxx
> 
> 
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