"Shaun Eli" wrote in message
ps.com...
Steve, there are a lot of books written that claim you can reduce or
eliminate your tax liability, and sometimes the authors of those books
go to jail.

Simply put, a business expense is a business expense if it's genuinely
used for business. About the only way you could legitimately write
off most of your restaurant meals is if you're a food critic.

If you don't use your truck 100% for business, you can write off only
the percentage of it that's business use-- and there are, I believe, a
couple of ways to do that. But you can't simply say "Gee, since
occasionally I drive around to inspect the properties I own, my truck
is 100% deductible."

And the same goes for gas, and the other stuff you wrote about.

If you want to debate the legality of your deductions, sure-- explain
to everyone here how each meal you eat truly relates to your business.


To do that, I would have to reveal too much personal information. Just let
it be said that I am able to eat out a lot, and put it down as a business
expense. I deal with a lot of buyers. I deal with a lot of company reps.

My truck and expenses are mostly deductible because of the locations of my
properties. This year, a vehicle over 6,000# is deductible. I don't know
if this is a new thing this year or not. I go to pick up my taxes tomorrow,
and I will ask.

I pay a CPA to do my taxes each year, and that person is "creative" in doing
them, yet does NOT take anything that is not within the law. She also
advises me of things to do, not to do, or change for the upcoming year to
avoid pitfalls. She stays current on the changing tax laws. She works in
the same office as my CFP, so they can huddle on most every matter.

I do pay for this service. I'd just rather pay a CPA good bucks for good
advice rather than paying the IRS taxes that are not necessary.

My point is that every person can probably pay less taxes if they would just
either educate themselves, or have a professional who can give them good
counsel.

Steve