How To Deduct Most Of Your Clothes
How To Deduct Most Of
Get Past The “public” Tax
Deducting clothing has always been a FAQ at my seminars. Here is the rule:
If you can wear it in public (the mall) without looking totally out of place, you cannot deduct it. For example, a doctor would look ridiculous wearing scrubs at the mall.
Many of small business people want to deduct polo shirts, tshirts, suits, and the like. These are all normal items of clothing. So, how do you make them deductible. Simple…add your logo and contact point. (web address, phone, etc)
Now, they become advertising pieces! This should be documented in your business plan that your intent is to wear advertising pieces and promote your business everywhere you go!
The cost to add the logo PLUS the cost of the clothing is deductible as promotions.
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