Self Employed Wine Consultant

Michaelgreco2012 — Sat, 13 Mar 2021 15:35:33 GMT

As a wine consultant we purchase numerous wines as market research to maintain knowledge for wine tastings. Is the purchase of wine and traveling to wineries deductible?

Re: Self Employed Wine Consultant

ToddL99 — Mon, 15 Mar 2021 16:23:10 GMT

Yes, the cost of wine and travel to wineries would be deductible expenses for a bona fide wine consultant. Both expenses would qualify as "ordinary and necessary" in conducting a wine consulting business.

From the IRS What Can I Deduct?: To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

Only business-related expenses are deductible. Since wine and travel can also be considered as personal expenses, make sure you are operating as a business - not a hobby.

See Is it a hobby or a business? for considerations in determining whether your activity is a business.

topic Self Employed Wine Consultant in Self employed

Self Employed Wine Consultant

Re: Self Employed Wine Consultant