At 05:19 AM 9/9/2005 -0400, you wrote: >Really, I'm not xenophobic!!! ...The IRS would like you to be paranoid, instead... > It's just boring tax questions that nobody outside the U.S. would be > interested in! > >As some may recall, I'm new to this. Just starting out, there are a lot >of things to buy--some can wait until the need arises, but others, such as >the horribly expensive center pin stuff, the cool damper wire bending >pliers, etc., I need to practice with BEFORE the need arises. How have >some of you others dealt with the IRS. Capital expenses, or >deductable? As I understand it, the IRS considers you a "Piano >Technician" as soon as you've been paid for services, however unqualified >you may be to render those services. I know several people who will pay me >to get me "in business", but then how should I handle these initial expenses? From the start and at the very least (and for me I guess it would BE the least, since my self-employed income is "moonlighting"), I would say that you should document _everything_ you think has _any_ relevance to business expense and schedule an appointment with a CPA - (itself a deductible expense). Others will surely give more specific advice, but it's a LOT easier to throw out receipts you don't need, than to recreate them AFTER you find they could help. Conrad Hoffsommer - Keyboard Technician Luther College, 700 College Dr., Decorah, Iowa 52101-1045 1-(563)-387-1204 // Fax 1-(563)-387-1076 - Right now, I'm hoping to live until my age matches my golf score, - Until then, I'll have to be content to have my IQ match my handicap.
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