John is right. Renting a camera is just a normal business expense, so it' a deduction from gross income, and I recoup only the percentage that goes on taxes. i still have about 16 days to go until I leave for that 3-day shoot, so I hope to have the body. Shooting a vintage race at Willow Springs and the Concours of America next weekend, so the K7 will probably have to answer the call for those.
Paul On Jul 23, 2012, at 12:05 AM, John Francis wrote: > On Sun, Jul 22, 2012 at 11:49:33AM -0400, John Sessoms wrote: >> >> It seems to me that in your case, renting a spare body would be a >> deductible business expense, so the cost should cancel out. > > It doesn't seem that way to me. > While many business expenses are allowable as pre-tax deductions, > very few can be directly offset agaist taxes. So while Paul may > well be able to use pre-tax dollars to rent that extra body, he'll > still end up out of pocket for the greater part of the expense. > > -- > PDML Pentax-Discuss Mail List > [email protected] > http://pdml.net/mailman/listinfo/pdml_pdml.net > to UNSUBSCRIBE from the PDML, please visit the link directly above and follow > the directions. -- PDML Pentax-Discuss Mail List [email protected] http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
