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Thread: What is deductible?

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    Default What is deductible?

    Hello,
    I wanna know what do you guys put on your taxes.... I keep all my gas, stripper shoes and outfit, make-up, accomodations and restaurant and grocery bills. Well the grocery and restaurant and accomodation only when I travel. But what else is deductible on my taxes? Thats the first time Im gonna do my stripper taxes and Im kinda lost I dont know how it works .... Please help me !!!

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    Banned Eric Stoner's Avatar
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    Default Re: What is deductible?

    Quote Originally Posted by yzis View Post
    Hello,
    I wanna know what do you guys put on your taxes.... I keep all my gas, stripper shoes and outfit, make-up, accomodations and restaurant and grocery bills. Well the grocery and restaurant and accomodation only when I travel. But what else is deductible on my taxes? Thats the first time Im gonna do my stripper taxes and Im kinda lost I dont know how it works .... Please help me !!!
    Did you do a search ? This topic has come up numerous times and your question has been answered. On this and related topics Melonie is God ! Lol.

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    Default Re: What is deductible?

    in general, anything you try to deduct as a business expense must pass the 'housewife test' ... meaning that you can't claim anything that a housewife would also spend money on with absolutely no reason for doing so. Thus you can deduct theatrical makeup but not department store makeup, you can deduct non-street legal costumes but not bikinis, you can deduct 6" heels but not platforms etc.

    As to deducting gas and meals, this is only allowed if an overnight hotel room bill is also available to prove that a 'business trip' was involved. The IRS does NOT allow deductions for commuting i.e. driving between home and the club and back home again. Nor do they allow a deduction for meals if working at you regular club. But if you are on a legitimate out of town 'road trip' EVERYTHING you spend money on from mileage to hotel bills to restaurant food to laundry bills etc. is deductible as a business expense.

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    Default Re: What is deductible?

    Are you filing your taxes in the United States or Canada?

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    Default Re: What is deductible?

    Canada , @melonie thank you for all the good informations

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    Default Re: What is deductible?

    Tax laws regarding deductions may be different in Canada than the US.

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    Default Re: What is deductible?

    In Canada, as a general rule, you can deduct any reasonable expense you paid or will have to pay to earn business income. The expenses you can deduct include any GST/HST you incur on these expenses. However, you cannot deduct personal expenses. Presently, the Canadians do not have bonus depreciation which allows us in the U.S. to expense some fairly large capital purchases in the year they are acquired. In Canada, you still have to depreciate capital assets over time. For example, lease hold improvements that are less than the limit for bonus depreciation in the U.S. can be claimed as an expense in the year you make the improvement. In Canada, you have to depreciate those improvements over at least five years, or twice the term of the lease.

    HTH
    Z

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