I own an entertainment & promotion's biz. Bought a drum set b/c our drummer doesn't own one. write off?

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I own an entertainment & promotion's biz. Bought a drum set b/c our drummer doesn't own one. write off?

2007-01-19 04:32:10 · 3 answers · asked by Seven 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

That sounds like a legit business expense to me. Assuming that the drum is being used in a legit for profit entity. If the drum is for entertainment or hobby purposes or given to the drummer, it would be treated differently,

2007-01-19 04:37:24 · answer #1 · answered by M O 6 · 0⤊ 0⤋

Maybe I should have been a little more clear. I don't use the drum set. It is only used when I scheduleevents that would require the drummer to play. Once it is done. I pack it up and store it away until our next event.

2007-01-19 05:14:29 · answer #2 · answered by Seven 1 · 0⤊ 0⤋

NOPE. Gift

2007-01-19 04:39:32 · answer #3 · answered by snvffy 7 · 0⤊ 0⤋