I think the key word here is "intent". If you buy something for personal use it is not tax deductible as a business expense. However, if you buy this piano with the intent of fixing it up and later selling it for a profit, of course everything about it, including parts and drayage are tax deductible. As others have pointed out, you might wish to declare the piano under Cost of Goods rather than in general. However, for just one piano, it might be prudent to just throw it in with the regular expenses. There is no time limit on when you need to sell it, and you can always change your mind in years to come if you decide you want to keep it. Carol Beigel In reply to: I apologize if this is a silly question, but I am currently gnawing on an opportunity I'd really like to take, except that it would require some financial finagling. In weighing my pros and cons, a thought came up - as a technician, if you purchase a piano that requires work that would help you hone your craft, can that purchase at all possibly be written off as a tax deduction? I'm afraid it's going to break my heart if I don't grab this piano, but it may break my wallet come April if i DO buy it...
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