The 2010 Tax Write Off Checklist Resource. - GoFuckYourself.com

MovieMaster · 10-14-2010, 10:19 AM

Scripts (strongbox, pennywize, smart thumbs, arrow trader, tradeexpert, cms, nats etc)
Software (dreamweaver, photoshop, thumbsplus, etc)
Hosting, Colocation, Bandwidth
Content Purchases
Models , Clothing, Travel expenses related to her getting to the shoot.
Camera / Photo Equipment
Domains
Hosting
Programmers / Hired Help
Interest On Business Credit Cards
Car Payment
Office Rent or % Of House Payment if work from home.
ISP Service (DSL, Cable,Wifi)
Computer Equip. monitor, Servers, Routers, video, sound, capture cards)
TV, VCR, DVD player, Xbox (research and development or hell Break room decor and equip)
Office Equipment (paper, pens, furniture,print materials, decor)
Advertising (print, banner spots, tgp listings, business cards, sig whores, seo, traffic purchases)
CCBILL , Epoch, etc Service Charges, Check Fee's, Wire Fee's
paypal Fee's
Chargebacks, refunds, Lost merchandise / inventory
Purchase of new web properties (websites, domains, etc)
Office Electricity & Water bill
Legal Expenses
Business attire (pimp suits, hawaiian shirts, pants)
Business Lunches (strip clubs, etc) gotta entertain the business partners
Hotel Stay
Merhant Account Fee's and service charges
Authorize.net / itransact etc monthly service
Postage / Shipping / Packaging
Phone (office, cell, etc)
gas
business / car insurance
car maintence
travel expenses (airfare)
printer ink
designers (design jobs, banners, tgp templates)
employee lunches & outings
client lunches / dinners
VEGAS PERIOD!
Visa Registration
Accountant Fee's Service Charges
Office Housekeeping :-)
Business Liceanse
Corp Reg Fee's & Renewals
Resellers Permit
Dry Cleaning Bills
Safe deposit box rental fee / PO BOX
Investment management or investment planner's fees
Corp Creation costs, and yearly renewals
Groups / Associations you might be afiliated with ie BBB, clubs or associations
ebay listing fee's
ebay tools & services
business related reading materials (newspapers, magazines etc)

If you have a stock that went out, like the company is gone, and you lost everything, then you can deduct the amount of the purchase. If you sold a house, any construction before the sale is also deductable.

Not sure where this falls but....
MIA Designers, Progammers that never complete the job and you have a deposit outstanding.

Also I am sure this could be applied for defunct clients....

Employee Tax
Employee Insurance
Employee Benefits , Bonus, Gifts

Many individuals sell stocks that show a loss at year-end to reap a tax writeoff. Making the wrong move after the sale, however, can prevent these taxpayers from claiming deductions, warns Bob D. Scharin, editor of Warren, Gorham & Lamont/RIA's Practical Tax Strategies, a monthly journal written for tax professionals.

This harsh consequence comes from the "wash-sale" rule. It prevents you from selling shares at a loss and then reacquiring substantially identical ones within 30 days before or after the sale. You may be tempted to sell and repurchase if you think the loser you have been holding is finally on the verge of a rally. "In essence, the rules are designed to prevent you from claiming a loss deduction while your investment position remains substantially unchanged," Scharin explains.

The 30-day period is not impeded by year-ends. Thus, if you sell stock at a
loss on December 30, 2004, and buy it back on January 10, 2005, your 2004
loss will be disallowed.

Remember that some may not apply to you and other have stipulations on how they can be written off... ie depreciated over x amount of time, or % of total amount. So see a tax accountant and he will pick and choose which can be applicable to you.

Off note writeoff's for personal life...

Alimony Paid
Child Care
Gambling Losses

**** Make sure to check with your accountant to double check *****

CYF · 10-14-2010, 10:49 AM

very nice list, thread subscribed.

MovieMaster · 10-14-2010, 11:11 AM

Add any other write off's or things that may have changed in tax law that are not able to be written off anymore.

candyx · 10-14-2010, 01:21 PM

This is very usefull thank you, i have a few questions though that i figure i will clarify them with an accountant but i would like to have an idea about taxes.
I have only been in US for 4 years and this is my first where i wont be getting a refund , on the contrary.
My question is besides the self employed tax of 15.3 % plus the state tax % , any other tax applies for us who have a 1099 and work for ourselves?

If this question sounds dumb, again this is my first year in this situation since i moved to US .

gleem · 10-14-2010, 01:41 PM

I hit a total company max deduction issue, and of course eat the 15% self employment tax. I'm thinking I need to open multiple companies to run expenses through.. who has the time *sigh*

CYF · 10-14-2010, 09:18 PM

bump for a nice business thread

MovieMaster · 10-15-2010, 12:23 PM

Any more writeoff ideas post them

tony286 · 10-15-2010, 12:25 PM

Chargebacks don't know about that one

Phoenix · 10-15-2010, 12:28 PM

nice thread man thanks

k0nr4d · 10-15-2010, 12:35 PM

I gotta go through this every month because I have to square up on taxes every month... I guess its better then having to light $40-50k on fire at the end of the year though

woj · 10-15-2010, 12:43 PM

good list, but isn't it a little early for that?

BlackCrayon · 10-15-2010, 12:48 PM

have detailed receipts for everything! that state from who, where the person/company is, what it was for, etc. epass transaction statements won't cut it if you are being audited.

10-14-2010, 10:19 AM	#1
MovieMaster Confirmed User Join Date: Apr 2003 Posts: 897	The 2010 Tax Write Off Checklist Resource. Scripts (strongbox, pennywize, smart thumbs, arrow trader, tradeexpert, cms, nats etc) Software (dreamweaver, photoshop, thumbsplus, etc) Hosting, Colocation, Bandwidth Content Purchases Models , Clothing, Travel expenses related to her getting to the shoot. Camera / Photo Equipment Domains Hosting Programmers / Hired Help Interest On Business Credit Cards Car Payment Office Rent or % Of House Payment if work from home. ISP Service (DSL, Cable,Wifi) Computer Equip. monitor, Servers, Routers, video, sound, capture cards) TV, VCR, DVD player, Xbox (research and development or hell Break room decor and equip) Office Equipment (paper, pens, furniture,print materials, decor) Advertising (print, banner spots, tgp listings, business cards, sig whores, seo, traffic purchases) CCBILL , Epoch, etc Service Charges, Check Fee's, Wire Fee's paypal Fee's Chargebacks, refunds, Lost merchandise / inventory Purchase of new web properties (websites, domains, etc) Office Electricity & Water bill Legal Expenses Business attire (pimp suits, hawaiian shirts, pants) Business Lunches (strip clubs, etc) gotta entertain the business partners Hotel Stay Merhant Account Fee's and service charges Authorize.net / itransact etc monthly service Postage / Shipping / Packaging Phone (office, cell, etc) gas business / car insurance car maintence travel expenses (airfare) printer ink designers (design jobs, banners, tgp templates) employee lunches & outings client lunches / dinners VEGAS PERIOD! Visa Registration Accountant Fee's Service Charges Office Housekeeping :-) Business Liceanse Corp Reg Fee's & Renewals Resellers Permit Dry Cleaning Bills Safe deposit box rental fee / PO BOX Investment management or investment planner's fees Corp Creation costs, and yearly renewals Groups / Associations you might be afiliated with ie BBB, clubs or associations ebay listing fee's ebay tools & services business related reading materials (newspapers, magazines etc) If you have a stock that went out, like the company is gone, and you lost everything, then you can deduct the amount of the purchase. If you sold a house, any construction before the sale is also deductable. Not sure where this falls but.... MIA Designers, Progammers that never complete the job and you have a deposit outstanding. Also I am sure this could be applied for defunct clients.... Employee Tax Employee Insurance Employee Benefits , Bonus, Gifts Many individuals sell stocks that show a loss at year-end to reap a tax writeoff. Making the wrong move after the sale, however, can prevent these taxpayers from claiming deductions, warns Bob D. Scharin, editor of Warren, Gorham & Lamont/RIA's Practical Tax Strategies, a monthly journal written for tax professionals. This harsh consequence comes from the "wash-sale" rule. It prevents you from selling shares at a loss and then reacquiring substantially identical ones within 30 days before or after the sale. You may be tempted to sell and repurchase if you think the loser you have been holding is finally on the verge of a rally. "In essence, the rules are designed to prevent you from claiming a loss deduction while your investment position remains substantially unchanged," Scharin explains. The 30-day period is not impeded by year-ends. Thus, if you sell stock at a loss on December 30, 2004, and buy it back on January 10, 2005, your 2004 loss will be disallowed. Remember that some may not apply to you and other have stipulations on how they can be written off... ie depreciated over x amount of time, or % of total amount. So see a tax accountant and he will pick and choose which can be applicable to you. Off note writeoff's for personal life... Alimony Paid Child Care Gambling Losses ** Make sure to check with your accountant to double check *** __________________ 100% Exclusive Program Babe-Bucks.com = HotModelClub.com \| NextDoor-Models.com Payments by: CCBILL ICQ Three 02 Five 638 Five 6 ReliableServers.com - NEED BANDWIDTH? Last edited by MovieMaster; 10-14-2010 at 10:21 AM..

10-14-2010, 10:49 AM	#2
CYF Coupon Guru Industry Role: Join Date: Mar 2009 Location: Minneapolis Posts: 10,973	very nice list, thread subscribed. __________________ Webmaster Coupons Coupons and discounts for hosting, domains, SSL Certs, and more! AmeriNOC Coupons \| Certified Hosting Coupons \| Hosting Coupons \| Domain Name Coupons

10-14-2010, 11:11 AM	#3
MovieMaster Confirmed User Join Date: Apr 2003 Posts: 897	Add any other write off's or things that may have changed in tax law that are not able to be written off anymore. __________________ 100% Exclusive Program Babe-Bucks.com = HotModelClub.com \| NextDoor-Models.com Payments by: CCBILL ICQ Three 02 Five 638 Five 6 ReliableServers.com - NEED BANDWIDTH?

10-14-2010, 01:41 PM	#5
gleem Confirmed User Industry Role: Join Date: Jun 2001 Location: Sunny Land Posts: 5,593	I hit a total company max deduction issue, and of course eat the 15% self employment tax. I'm thinking I need to open multiple companies to run expenses through.. who has the time sigh __________________ Contact me: \\// E: webmaster /at/ unprofessional.com

10-14-2010, 09:18 PM	#6
CYF Coupon Guru Industry Role: Join Date: Mar 2009 Location: Minneapolis Posts: 10,973	bump for a nice business thread __________________ Webmaster Coupons Coupons and discounts for hosting, domains, SSL Certs, and more! AmeriNOC Coupons \| Certified Hosting Coupons \| Hosting Coupons \| Domain Name Coupons

10-14-2010, 01:21 PM	#4
candyx Confirmed User Industry Role: Join Date: Sep 2010 Posts: 125	This is very usefull thank you, i have a few questions though that i figure i will clarify them with an accountant but i would like to have an idea about taxes. I have only been in US for 4 years and this is my first where i wont be getting a refund , on the contrary. My question is besides the self employed tax of 15.3 % plus the state tax % , any other tax applies for us who have a 1099 and work for ourselves? If this question sounds dumb, again this is my first year in this situation since i moved to US .

10-15-2010, 12:23 PM	#7
MovieMaster Confirmed User Join Date: Apr 2003 Posts: 897	Any more writeoff ideas post them __________________ 100% Exclusive Program Babe-Bucks.com = HotModelClub.com \| NextDoor-Models.com Payments by: CCBILL ICQ Three 02 Five 638 Five 6 ReliableServers.com - NEED BANDWIDTH?

10-15-2010, 12:25 PM	#8
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	Chargebacks don't know about that one

10-15-2010, 12:28 PM	#9
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	nice thread man thanks __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

10-15-2010, 12:35 PM	#10
k0nr4d Confirmed User Industry Role: Join Date: Aug 2006 Location: Poland Posts: 9,228	I gotta go through this every month because I have to square up on taxes every month... I guess its better then having to light $40-50k on fire at the end of the year though __________________ Mechanical Bunny Media Mechbunny Tube Script \| Mechbunny Webcam Aggregator Script \| Custom Web Development

10-15-2010, 12:43 PM	#11
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	good list, but isn't it a little early for that? __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

10-15-2010, 12:48 PM	#12
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	have detailed receipts for everything! that state from who, where the person/company is, what it was for, etc. epass transaction statements won't cut it if you are being audited. __________________ you don't know you're wearing a leash if you sit by the peg all day..