on schedule C is a speeding ticket legitimate as a buisness expense? The answer is not in the book, but my gut tells me it would not qualify as a buisness expense.
Please state your credentials.
2006-10-30 05:06:24 · 5 answers · asked by horrorfan 3 in Business & Finance ➔ Taxes ➔ United States
A good question; 36 years with IRS/VITA. As a matter of course anything that is illegal is not deductible. However, do you have an arguable point. In the course of your business was there a legitimate excuse for having to speed and risk a ticket? Rushing a heart donated to a transplant victim? Rushing a woman in labor to hospital? Getting an order to it's recipient before deadline? Under certain circumstances you might put it down as a legitimate expense under "other expenses" and argue the point if called on it.
2006-10-30 06:26:36 · answer #1 · answered by acmeraven 7 · 0⤊ 0⤋
Not deductible. Been doing taxes all my life and own my own tax business for the past 5 years, employing 3 full time and 10 part timers during tax season. Over 3000 returns done per year.
2006-10-30 08:34:03 · answer #2 · answered by mrfoxhorn 5 · 0⤊ 0⤋
It cannot be expensed. Breaking the law (driving above the speed limit) is your choice and not required by your business. Therefore, it would be illegal to write it off as a business expense.
2006-10-30 05:11:10 · answer #3 · answered by gene177 2 · 1⤊ 0⤋
Not deductible.
2006-10-30 08:20:45 · answer #4 · answered by Dave 3 · 0⤊ 0⤋
not deductible
2006-10-30 05:56:33 · answer #5 · answered by megdbrown10304 2 · 0⤊ 0⤋