From: Paul Jin (pauljin70@gmail.com)
Date: Fri Jan 20 2006 - 16:19:28 GMT-3
I agree with the folks that said start a business and deduct it off of
Schedule C.
As long as you have an intention is to be in business to make income and is
not a hobby, you can deduct all expenses associated with the business. As
an example, if you have an consulting or training business, and must spend
money on equipment, books, etc.... All this can be deducted against the
income generated from the business, or if you have a loss, the expenses can
be deducted against your regular full time income from your employer.
You might want to check this site out and the forum link at the bottom left,
lots of useful discussion on having a part time business and tax deduction.
http://www.taxreductioninstitute.com/index.asp?REFERER=CCIE
And no, you dont have to buy anything off this link, as there are plenty of
good info here for free and you can do further research on it on your own on
the net.
thanks,
Paul
On 1/20/06, joshua lauer <jslauer@hotmail.com> wrote:
>
> you can also apply for an LLC for about 500.00 or so...just make up some
> goofy name and your ready to rock and roll.........
>
>
>
>
>
> ----- Original Message -----
> From: "Mark Lasarko" <mlasarko@co.ba.md.us>
> To: <swm@emanon.com>; <John.Matus@tokiom.com>
> Cc: <ccielab@groupstudy.com>; <nobody@groupstudy.com>; <jmatus@pacbell.net
> >
> Sent: Friday, January 20, 2006 2:03 PM
> Subject: RE: ccie tax write-off's
>
>
> > Yeah, what Scott said :-)
> > There is not much you have to do to get started.
> > Think of a name and get a Sales & Tax use license.
> > Even if you're only consulting;
> > It does not hurt to file "$0.00" in sales now and then.
> > I also recommend a P.O. box and/or a simple website,
> > ...if you can afford it.
> > (Again, it's another write-off either way)
> > Something to further substantiate the business)
> > HTH,
> > ~M
> >
> >
> >>>> "Scott Morris" <swm@emanon.com> 01/20/06 12:52 PM >>>
> >
> > You have to start a business sometime, right? Ever do any consulting on
> > the
> > side? There ya go. Just declare some income too, at least a
> little. :)
> >
> > There's no rule the IRS has about you moonlighting as an independent
> even
> > though you have a full time day job.
> >
> > Scott
> >
> > -----Original Message-----
> > From: nobody@groupstudy.com [mailto:nobody@groupstudy.com] On Behalf Of
> > John
> > Matus
> > Sent: Friday, January 20, 2006 12:42 PM
> > To: Mark Lasarko
> > Cc: ccielab@groupstudy.com; jmatus@pacbell.net; nobody@groupstudy.com
> > Subject: Re: ccie tax write-off's
> >
> > hi mark,
> > thanks for responding!
> >
> > schedule c, eh? my situation is that i'm a W-2 employee, so i'm not
> > sure
> > how i could go about doing this. i'm assuming that you have to have a
> > business already formed in order to do this <???>
> >
> >
> > Regards,
> >
> > John D. Matus
> > Technical Support / PAS
> > Fujitsu Consulting
> > 626-568-7716
> > John.Matus@tokiom.com
> >
> >
> >
> > "Mark Lasarko"
> > <mlasarko@co.ba.m
> > d.us
> > To
> > Sent by: <ccielab@groupstudy.com>,
> > nobody@groupstudy <jmatus@pacbell.net>
> > .com
> cc
> >
> >
> Subject
> > 01/20/2006 07:53 Re: ccie tax write-off's
> > AM
> >
> >
> > Please respond to
> > "Mark Lasarko"
> > <mlasarko@co.ba.m
> > d.us>
> >
> >
> >
> >
> >
> >
> > Greetings John & GS,
> >
> > ...Write off CCIE stuff? Absolutely!
> >
> > I have had a business established since '99 as a sole proprietorship.
> > Most of my reasoning at the time was to offset training expenses.
> > See, I had full-time work I was sure to owe taxes on.
> > In the meantime I began to see the test fees, books, etc... accrue.
> > That was just CCNA/DA, Check Point, Nokia, CNE, and MCSE stuff back
> then.
> > I was barely looking at the prices of the CCNP/CCDP books and exams; The
> > bottom line was that I wanted to study more than my employer wanted to
> pay
> > for.
> > So the only logical thing to do was find a way to pay for it, but get it
> > back in the end!
> >
> > Little did I know :-)
> > Back then I had no idea how many $'s would fall...
> > (into the CCIE [money pit | wishing well]) A couple years later I have a
> > full rack, More books than I could ever read, Materials from vendors,
> all
> > that costly stuff :-) And some comfort knowing my efforts are
> > "deductible".
> >
> > My best recommendation:
> > Go for the biz, schedule C, and the loss in your business income, if
> any,
> > can be beneficial, even if the taxes are taken from you or your spouse's
> > job, if married and filing jointly. (For those spending the family
> savings
> > on
> > training!)
> >
> > Just try and document it all as best you can.
> > Travel down to the mile, every toll or meal expense on the way.
> > Maybe even get a separate credit card or open a business account just
> for
> > these things.
> >
> >
> > And if you think you might ever need to resell any hardware be sure and
> > get
> > your state's sales and tax use ok'd sooner instead of later.
> >
> > HTH,
> > ~M
> >
> >
> >>>> "John Matus" <jmatus@pacbell.net> 01/19/06 11:37 PM >>>
> >
> > does anyone know if you can write off CCIE stuff on your tax
> returns? i'm
> > not quite sure where or how you would do it, but hey..... it is
> > "continuing
> > education".
> >
> >
> > Regards,
> >
> > John D. Matus
> > MCSE, CCNP
> > Office: 818-782-2061
> > Cell: 818-430-8372
> > jmatus@pacbell.net
> >
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