Books a write off?

Filed in archive Taxes on January 10, 2008

Can you purchase items such as books and write them off?

The Tax Girl recently answered this question on her blog. The answer was yes but there must be a clear connection between the book and running your business. For example if you need to purchase a book to learn how to operate your new website software that MAY be eligible as a business expense.

Now the disclaimer: Don't take our word for it, I would highly recommend that you find out from your accountant or tax adviser before taking off the deduction. Sadly when it comes to taxes everything changes on a regular basis so it is best to get advice. In other words check with someone who works with tax laws on a regular basis.

As we have mentioned before a good accountant or tax adviser is one of you're most important resources in running your business. Make sure you find one that fits your needs and your business.