Tax Question: deductions for site content props
 

Lets say for sake of argument that you build a site thats all about fucking chicks in a particular boat. Every episode is filmed on the boat in different locations.

Obviously the site is a revenue generating asset that you are building, and one of the main expenses for building that site is the purchase of the boat, trailer, truck, fuel, accessories, etc. as well as marina fees, lodging, insurance, maintenance and the like(as well as the cameras, mics, etc).

SO, assuming that every time you take the boat out you shoot a scene, is it legit to expense/deduct all those boat and marina type of expenses against all your company revenue for tax purposes?


:helpme

I should have put (big titty pics!) in the thread title I guess.

Depends on the taxlaws of wherever you file your taxes

Only a tax accountant for your filing country can answer

I believe that the answer for me is yes - but i'm sure i'd face an audit

You can buy a boat once and use it only once and use it as a tax deduction.

Hollywood does this all the time.
So the answer is yes.

You'll have to show that you used the boat extremely frequently for your business (ie: 90% of the time its used). Otherwise an auditor will simply say you could have rented it.

So be prepared to actually do filming and content production on the boat and not trying to buy a boat for your own use and making it look like its a business write off.
WG

Install internets and say you work on it and it's your office! haha

If it weren't a porn site, but was more of a niche content site with appropriate affiliate links, adsense, etc, then you could post a review of the marina, photos of the facilities, details on a map, etc every time you took it out - that would be 100% of the time and should pretty well legitimize the whole operation.

But I could still see this as being a big red flag for auditors to dig in.

you could, but it would mean you could never EVER use it privately, and you need a income that supports the writeoff

The reason why I know this, is because we researched it for a PilotForum in Florida 3 years ago

you would have to prove its only for content and not fishing and water skiing. im sure even if its legit its a red flag. dont take my advice though, talk to an accountant.

I have the question into my accountant in advance of a meeting early next month, but to be honest I don't think these stuffed shirt types really understand the internet very much.

I think it is 100% legit, but it may be too much trouble to pursue, and may get me audited for no reason. :mad:

if your cpa doesnt understand what you do.time to get another one.

in the us you would have to write that off by depreciating it over a number of years. I believe its 10 years thats why on investment property a lot of times owners sell it so they have another property to depreciate over time.

but best financial advise would be to rent the boat for the few hours you need it and lower your costs. spend that money elsewhere so you dont tie up too much of your cashflow.

take a picture of your dick every time out.