Sunday, July 12, 2009

I own an entertainment & promotion's biz. Bought a drum set b/c our drummer doesn't own one. write off?

That sounds like a legit business expense to me. Assuming that the drum is being used in a legit for profit entity. If the drum is for entertainment or hobby purposes or given to the drummer, it would be treated differently,

I own an entertainment %26amp; promotion's biz. Bought a drum set b/c our drummer doesn't own one. write off?
NOPE. Gift
Reply:Maybe I should have been a little more clear. I don't use the drum set. It is only used when I scheduleevents that would require the drummer to play. Once it is done. I pack it up and store it away until our next event.


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