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Business Write Offs & Aquariums.

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  • Business Write Offs & Aquariums.

    Heres a quick question for all your business owners out there.

    If I opened lets say a Bar and installed a SW Reef, could I write it off as a business expense?


  • #2
    yes

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    • #3

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      • #4
        Sure can! Your point to an Aquarium is to attract customers. Its a business tool.

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        • #5
          yes,u can...i have fo tank in my store....

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          • #6
            Awesome. Simply, AWESOME

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            • #7
              Sean,


              Just keep in mind that first you have to make money to write stuff off, take that back, it is better to make money first, but there is a fine line, at least here in Michigan.....

              I do not think that I would try and write my tank in my office off, but then again that may depend on what the future brings business wise........
              IF IT IS WORTH DOING, TAKE YOUR TIME AND DO IT RIGHT..........

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              • #8
                write off always sounds good, but you have to keep in mind, only the tax% is what you are saving, lets say you pay 50% tax, you only saving 50% not the whole amound, my accounted always tells me to buy something to get some write off, lets look at it, if i spend 100k, and i write if off over 10 years, that means in can write off 10k a year, i will save 5k a year on less tax, but if i dont buy new equipment i can put 5k in my savings account, yes i will pay 5k tax but i will also save 5k for myself, that only works if your equpment is still good and you dont need anything new, i guess is not so easy as black and white
                but lets look at it another way, my doughter wanted a horse, so i got her one, and i write it off as expences, everything for the horse is 50% since i write it off,
                anyways, what ever you do, take some classes,

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                • #9
                  whats the new scheme Sean? I want it!!!
                  --Matt

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                  • #10
                    Matt, you can't handle it.

                    There is no scheme. We(2 friends and I) formed a small company that hosts console game tournaments. We charge entry and have prizes and sponsors, etc. After our Madden tournament in April and our Halo(1), we're going to see how much of a crowd we can really pull. It seems right now that we'll have people from FL, SC and all over GA, from early polls we may easily clear 500 people in the madden tournament. For our Halo(1) tournament, we have 4 professional Bungie players enrolled and 2 bungie execs.

                    We're were talking about buying a building if we got big enough, thats all.

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                    • #11
                      can't handle it huh? I guess I am getting old. That's a cool idea - I didn't realize you guys were actually doing that for a business venture - I thought it was more for the sake of gaming.
                      --Matt

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                      • #12
                        It is, we're only clearing a couple hundred a tournament.

                        But we have to rent space for all those people, work out food etc..etc.

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