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Ask An Accountant: Purchasing Items for a New Business

by Dana Zeliff on August 6, 20112011-08-06
in Worth Reading

Disclosure: This post may contain an affiliate link.


Thanks to Mom on Dealz for sharing her series, Ask an Accountant!  Sharon is married to an experienced accountant.  Although tax season is over, tax questions arise year round.

Question
:
I am in the process of registering the blog as a business and wanted to know if I am going to be able to claim all of the stuff I have already purchased for it from the time I started or if I cannot start claiming until it is registered.

Answer:

If you are operating the blog as a business and your intent in purchasing the items was to have a blog as a business than yes. You can claim items purchased as long as they are solely for the business.

*Please keep in mind this post is for informational purposes only and answers given are very general. Many things depend on individual circumstances. Please contact your personal accountant or financial advisor for your particular situation
.

photo credit: austinpost.org

Filed Under: Worth Reading Tagged With: Ask an Accountant

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About The Coupon Challenge

Hi! I'm Dana, the writer behind the scenes of The Coupon Challenge, a Hampton Roads, VA based coupon blog. I'm a wife and mother of 2. After getting out of debt we started using our savings to travel together as a family and create memories.

Are you looking for ways to save your family money? I strive to help you save on the products you need, so you can spend more on the things you want. Read More about Dana & Family

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