For Sale Artifically Aged Reprints $5.00 Makes Great Gifts See Pics

[vintagecpa]

I'm afraid your just too unknowledgeable of the subject to have an intelligent conversation. However, I will answer your question simply for the entertainment value. If you are a business, you are allowed to "write off" 50% of meals and entertainment expenses. You obviously need to provide receipts and have some type of record that the expense is business-related (in the event of an audit). Business supplies can be deducted 100%.

In your case, for your business, you would be able to deduct (write-off) the cost of the legitimate reprint cards and aging chemicals (aka business supplies). If you go to lunch with you reprint card salesperson, you get to deduct 50% of that meal as long as you were discussing business. Not much of a gray area.

[rarerookies]

You must work for H&R block and don't understand the complexity of today's tax laws and the room built in for interpretation in those laws by lawmakers.

Originally Posted by vintagecpa

I'm afraid your just too unknowledgeable of the subject to have an intelligent conversation. However, I will answer your question simply for the entertainment value. If you are a business, you are allowed to "write off" 50% of meals and entertainment expenses. You obviously need to provide receipts and have some type of record that the expense is business-related (in the event of an audit). Business supplies can be deducted 100%.

In your case, for your business, you would be able to deduct (write-off) the cost of the legitimate reprint cards and aging chemicals (aka business supplies). If you go to lunch with you reprint card salesperson, you get to deduct 50% of that meal as long as you were discussing business. Not much of a gray area.

[vintagecpa]

This will be my last post regarding this hopeless conversation. I assume your last post is some sort of personal attack on my knowledge or skills. I'm afraid there are very few CPA's working at retail tax outfits like H&R Block. Most CPA's have their own practice (myself) or work for a larger CPA or private firm. However, I am somewhat familiar with the training and software H&R Block uses. If you walk into your nearest H&R Block and ask the same questions you ask me, you should get very similar answers.

Judging by how vehemently you are defending yourself, I suspect you don't see yourself doing anything wrong. At the very least, if you are going to continue with your current business (and I suspect you will), I would recommend not removing the copyright wording during your aging process. It is the one area that could potentially get you in trouble. Have a Happy Black Friday.

[rarerookies]

Thank you for debating on the subject. I was curious to what I would do while waiting for my wife to drag me out to the sales at 3am.

Have a Happy Black Friday as well.

Originally Posted by vintagecpa

This will be my last post regarding this hopeless conversation. I assume your last post is some sort of personal attack on my knowledge or skills. I'm afraid there are very few CPA's working at retail tax outfits like H&R Block. Most CPA's have their own practice (myself) or work for a larger CPA or private firm. However, I am somewhat familiar with the training and software H&R Block uses. If you walk into your nearest H&R Block and ask the same questions you ask me, you should get very similar answers.

Judging by how vehemently you are defending yourself, I suspect you don't see yourself doing anything wrong. At the very least, if you are going to continue with your current business (and I suspect you will), I would recommend not removing the copyright wording during your aging process. It is the one area that could potentially get you in trouble. Have a Happy Black Friday.