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Path: utzoo!watmath!clyde!cbosgd!hplabs!hp-pcd!john
From: john@hp-pcd.UUCP (john)
Newsgroups: net.taxes
Subject: Re: A taxing question
Message-ID: <129600004@hpcvla.UUCP>
Date: Thu, 13-Mar-86 15:13:00 EST
Article-I.D.: hpcvla.129600004
Posted: Thu Mar 13 15:13:00 1986
Date-Received: Sat, 15-Mar-86 19:37:19 EST
References: <743@ihlpm.UUCP>
Organization: Hewlett-Packard - Corvallis, OR
Lines: 21
Nf-ID: #R:ihlpm:-74300:hpcvla:129600004:000:951
Nf-From: hpcvla!john    Mar 13 12:13:00 1986

<<<<
< I am thinking of going into a part time (for now)
< business (home remodeling), business checking
< account, business cards, letter heads etc, the
< whole schmear. I am also in the market for an
< car or truck. Question: If I buy a truck, can
< I use it for tax purposes, i.e. depreciation
< as a business expense? Also, does it matter
< that I'm in business part time? Any other
< particulars will be appreciated.
<
If part of the "whole schmear" is income produced by your business then
you are probably ok. All you need is a good accountant and/or a ton of
tax advice books. The IRS does look for part time businesses whose sole
function seems to be to turn normal personal expenses into tax deductable
ones. If you lose money on a business for a certain number of years then
they will decide that you were only doing it as a hobby and I believe they
will reclassify your previous deductions as non-business.

John Eaton
!hplabs!hp-pcd!john