is content a tax write off? - GoFuckYourself.com

Nardimus · 03-10-2004, 01:49 PM

if you spend $15000 in a year buying content sets to use on galleries and you make your money from gallery revenue....

is this a tax write off?

tayloryum · 03-10-2004, 01:54 PM

johnbosh · 03-10-2004, 01:54 PM

posted before the answer was yes:D

OldJeff · 03-10-2004, 01:55 PM

yes, so is hosting, your computer hardware (although usually better to depreciate hardware) software, office supplies, a percentage of your rent / mortgauge if you use an area exclusivly for work, light bill, phone bills, heat bill (all a percentage based upon the amount of space you use for work)

I suggest you go to an accountant, along with knowing more about what you can deduct, it also greatly lessens you chance of an audit

detoxed · 03-10-2004, 01:56 PM

thats common sense..

Rice_Master · 03-10-2004, 01:56 PM

Quote:

Originally posted by OldJeff
it also greatly lessens you chance of an audit

How is that so?

Observing · 03-10-2004, 01:57 PM

I'll do one of these posts once.

Any god damn thing you put up money for to run your business is tax deductable. This means everything that has been said, business dinners, travels, hotels whatever, if its for your business you deduct it!

Vitasoy · 03-10-2004, 01:57 PM

Just about anything that goes to wards your business, could be written off.

- AFN - · 03-10-2004, 01:57 PM

you bet your ass is it I wrote off a huge percentage of my taxes from content buying

Rictor · 03-10-2004, 01:58 PM

If you are spending $15k in a year on content for galleries...you are probably overpaying a bit. Heh. You can get one of those content blowout deals for $2k and have 100,000 high quality images. That's years worth of galleries.

doober · 03-10-2004, 02:04 PM

I can not beleive someone would ask something like this lol

Sarah_Jayne · 03-10-2004, 02:05 PM

yes but make sure you have the paperwork to prove it.

freeadultcontent · 03-10-2004, 02:30 PM

Quote:

Originally posted by Rictor
If you are spending $15k in a year on content for galleries...you are probably overpaying a bit. Heh. You can get one of those content blowout deals for $2k and have 100,000 high quality images. That's years worth of galleries.

Hmmm, I would rather cut a check to a provider for the other 13k and have good content, than cut a check to the IRS for jack shit.

cashman · 03-10-2004, 02:30 PM

sure it should be.

Mike-BP · 03-10-2004, 02:31 PM

ofcourse it is...........

Vic Lagina · 03-10-2004, 02:35 PM

Of course

It's a business expense like any other...hell, I was able to write off dildos I used on shoots! (Classified as "Production Equipment")

sweetcuties · 03-10-2004, 02:37 PM

I don't even spend 15k in content and I shoot my own stuff

Strife · 03-10-2004, 02:40 PM

what would content be classified as?

Keev · 03-10-2004, 02:44 PM

http://gofuckyourself.com/showthread...ght=2004+T ax

Content = Content, Marketing, Product Development, Models,

jayeff · 03-10-2004, 03:30 PM

The best answer you had yet in this thread is to go see a good accountant. Depreciation - rates and qualifying items - is a very complex topic. Sometimes you have to apply depreciation. Sometimes you may want to.

The IRS count as depreciable "property that wears out or becomes obsolete and it must have a determinable useful life substantially beyond the tax year." There are some basic requirements and rules about specific items, but generally you can expense up to around $100,000 during the year of purchase via a Section 179 deduction.

So the short answer is almost certainly that you can write off the $15,000, but there are several reasons it might be better to depreciate rather than to write off. To enhance your credit, you might want to show a higher income. Running a business you might want to sell, assets plus a higher income look good. An accountant who is advising you on tax planning might recommend it.

baddog · 03-10-2004, 03:45 PM

of course

Theo · 03-10-2004, 03:51 PM

Quote:

Originally posted by detoxed
thats common sense..

some people dont have

03-10-2004, 01:49 PM	#1
Nardimus Confirmed User Join Date: Feb 2003 Location: Seattle Posts: 418	is content a tax write off? if you spend $15000 in a year buying content sets to use on galleries and you make your money from gallery revenue.... is this a tax write off?

03-10-2004, 01:54 PM	#2
tayloryum Confirmed User Join Date: Jan 2002 Location: Chicago, IL, USA Posts: 423	yes. __________________ Free Live Web Cam Girls Content for Promotion These girls CONVERT LIKE CRAZY - do yourself a favor and sign-up today!

03-10-2004, 01:57 PM	#7
Observing Confirmed User Join Date: Jan 2004 Posts: 809	I'll do one of these posts once. Any god damn thing you put up money for to run your business is tax deductable. This means everything that has been said, business dinners, travels, hotels whatever, if its for your business you deduct it! __________________ ICQ: 278-457-533

03-10-2004, 01:57 PM	#8
Vitasoy GFY HALL OF FAME DAMMIT!!! Join Date: Oct 2003 Posts: 58,202	Just about anything that goes to wards your business, could be written off. __________________ [email protected]

03-10-2004, 01:57 PM	#9
- AFN - Confirmed User Join Date: Jun 2003 Location: NYC Baaaabeee Posts: 3,101	you bet your ass is it I wrote off a huge percentage of my taxes from content buying __________________ cat cash* \| tr -d '\r' \| tr -s '/n' > money

03-10-2004, 01:54 PM	#3
johnbosh Confirmed User Join Date: Aug 2002 Location: The Netherlands, Rotterdam Posts: 8,965	posted before the answer was yes:D

03-10-2004, 01:55 PM	#4
OldJeff Big Fucking hahahaha Industry Role: Join Date: Feb 2003 Posts: 2,067	yes, so is hosting, your computer hardware (although usually better to depreciate hardware) software, office supplies, a percentage of your rent / mortgauge if you use an area exclusivly for work, light bill, phone bills, heat bill (all a percentage based upon the amount of space you use for work) I suggest you go to an accountant, along with knowing more about what you can deduct, it also greatly lessens you chance of an audit

03-10-2004, 01:56 PM	#5
detoxed vip member Join Date: Jan 2003 Posts: 17,798	thats common sense..

03-10-2004, 01:58 PM	#10
Rictor Old Timer Industry Role: Join Date: Jan 2001 Location: Indianapolis Posts: 12,208	If you are spending $15k in a year on content for galleries...you are probably overpaying a bit. Heh. You can get one of those content blowout deals for $2k and have 100,000 high quality images. That's years worth of galleries.

03-10-2004, 02:04 PM	#11
doober Confirmed User Join Date: Jul 2003 Location: in yoOoo kitchen Posts: 6,984	I can not beleive someone would ask something like this lol

03-10-2004, 02:05 PM	#12
Sarah_Jayne Now with more Jayne Industry Role: Join Date: Dec 2002 Location: Los Angeles Posts: 40,077	yes but make sure you have the paperwork to prove it.

03-10-2004, 02:30 PM	#14
cashman Confirmed User Join Date: Mar 2004 Posts: 898	sure it should be.

03-10-2004, 02:31 PM	#15
Mike-BP Confirmed User Join Date: Mar 2003 Posts: 1,270	ofcourse it is........... __________________ Thanks to: ISPrime.com - best hosting company without downtime

03-10-2004, 02:35 PM	#16
Vic Lagina Confirmed User Join Date: Jul 2003 Location: West Palm Beach Posts: 1,409	Of course It's a business expense like any other...hell, I was able to write off dildos I used on shoots! (Classified as "Production Equipment") __________________ SIG TOO BIG! Maximum 120x60 button and no more than 3 text lines of DEFAULT SIZE and COLOR. Unless your sig is for a GFY top banner sponsor, then you may use a 624x80 instead of a 120x60.

03-10-2004, 02:37 PM	#17
sweetcuties Confirmed User Join Date: Feb 2002 Location: Somewhere Posts: 5,859	I don't even spend 15k in content and I shoot my own stuff __________________

03-10-2004, 02:40 PM	#18
Strife Confirmed User Join Date: Aug 2001 Location: Canada Posts: 4,534	what would content be classified as? __________________ Buy & Sell Ads on The Most Sexy Advertising Network on the Planet

03-10-2004, 02:44 PM	#19
Keev Confirmed User Join Date: May 2001 Posts: 5,335	http://gofuckyourself.com/showthread...ght=2004+T ax Content = Content, Marketing, Product Development, Models, __________________ ReliableServers.com - NO REF LINK!

03-10-2004, 03:30 PM	#20
jayeff Confirmed User Join Date: May 2001 Posts: 2,944	The best answer you had yet in this thread is to go see a good accountant. Depreciation - rates and qualifying items - is a very complex topic. Sometimes you have to apply depreciation. Sometimes you may want to. The IRS count as depreciable "property that wears out or becomes obsolete and it must have a determinable useful life substantially beyond the tax year." There are some basic requirements and rules about specific items, but generally you can expense up to around $100,000 during the year of purchase via a Section 179 deduction. So the short answer is almost certainly that you can write off the $15,000, but there are several reasons it might be better to depreciate rather than to write off. To enhance your credit, you might want to show a higher income. Running a business you might want to sell, assets plus a higher income look good. An accountant who is advising you on tax planning might recommend it.

03-10-2004, 03:45 PM	#21
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	of course