Daycare.com Forum
Daycare and Taxes>Do You Deduct Online Purchases?
littlemommy 06:14 AM 08-23-2011
I've heard of small businesses getting audited and in trouble for trying to deduct their online purchases, because taxes aren't paid.
How is it that garage sale purchases can be a 100% write off but not online things? Taxes aren't paid on either so I'm confused. Last year I deducted all online purchases and my tax person didn't say I couldn't.
How is it that garage sale purchases can be a 100% write off but not online things? Taxes aren't paid on either so I'm confused. Last year I deducted all online purchases and my tax person didn't say I couldn't.
mismatchedsocks 06:23 AM 08-23-2011
I do, because its like getting from rummage sale. Never heard that you cant deduct if you dont pay taxes on something?
littlemommy 06:25 AM 08-23-2011
Originally Posted by lilrugrats:
I do, because its like getting from rummage sale. Never heard that you cant deduct if you dont pay taxes on something?
And it's still going towards your business. I can understand the gov being upset about not paying taxes, but they should go after the big places like Amazon and make them charge taxes, not come after us! I mean, of course we'll go after a better deal online!!I do, because its like getting from rummage sale. Never heard that you cant deduct if you dont pay taxes on something?
momofsix 06:59 AM 08-23-2011
Do you mean state taxes? In MI on our tax returns, there is a spot to pay taxes on any on-line purchases that weren't taxed. It's an honor thing though-they have no idea what people buy online. I wonder how many people voluntarily pay it?
I do deduct my online purchases. They are a business expense just like any other!
I do deduct my online purchases. They are a business expense just like any other!
wdmmom 07:08 AM 08-23-2011
Any purchase made for wor is tax deductible...whether you purchase it at a 2nd hand store, a garage sale, online, etc.
Get a receipt from the individual you are purchasing the product from or make yourself a receipt.
If I purchase something online, I just have the person I'm buying it from send me an email stating the price and the item description. Or if you buy from Craigslist, just print off a copy of the ad!
Get a receipt from the individual you are purchasing the product from or make yourself a receipt.
If I purchase something online, I just have the person I'm buying it from send me an email stating the price and the item description. Or if you buy from Craigslist, just print off a copy of the ad!
PitterPatter 07:33 AM 08-23-2011
I don't because I want a receipt for everything just in case. I make some purchases for daycare online but not enough to really matter anyway. Now if I ordered some kiddo furniture or a big ticket item then yeah I would claim it and use the invoice as receipt.
littlemommy 07:57 AM 08-23-2011
Originally Posted by wdmmom:
Any purchase made for wor is tax deductible...whether you purchase it at a 2nd hand store, a garage sale, online, etc.
Get a receipt from the individual you are purchasing the product from or make yourself a receipt.
If I purchase something online, I just have the person I'm buying it from send me an email stating the price and the item description. Or if you buy from Craigslist, just print off a copy of the ad!
Good thinking!Any purchase made for wor is tax deductible...whether you purchase it at a 2nd hand store, a garage sale, online, etc.
Get a receipt from the individual you are purchasing the product from or make yourself a receipt.
If I purchase something online, I just have the person I'm buying it from send me an email stating the price and the item description. Or if you buy from Craigslist, just print off a copy of the ad!
I went to Walmart last night to find an extra wide baby gate. They didn't have any that went wide enough. On Amazon, I found one cheaper than the cheapest at Walmart-and it's big enough! I'm going to put some toys on that order, too.
If I would get a set of stainless steel cookware, that could be in the "shared" category, right? Obviously I'd still use it for work since I cook.