Scenario - I have a friend with a dog boarding business, operating as an LLC. He uses his home for boarding giving the boarded dogs free roam of the house the same as the dogs would have at home. He also sells dog supplements and food as a distributor for another company. My friend also has his own dogs. He gives the supplements and food to his own dogs as a true, life testimony to how well the products work.
Question - I help my friend with his taxes, mostly answering questions, etc. because I am more computer and research savvy, but am second guessing myself on these questions. He wants to write-off his dogs' food and supplements as expenses of the LLC. He also wants to write-off other expenses for his dogs because he argues that he uses his dogs in his business. I argue that only expenses directly related to the business can be written off, for example if he uses his dogs in advertisement, etc. Am I being too conservative? What is the right answer for these expenses?
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Sounds like a homework questions!! If you have Clients, you should have the answer.
But just in case, you said Client, the forum here is for the personal side of TurboTax. Tax preparers need to use the TurboTax Pro Series, and that should walk you right thru it.
Sounds like a homework questions!! If you have Clients, you should have the answer.
But just in case, you said Client, the forum here is for the personal side of TurboTax. Tax preparers need to use the TurboTax Pro Series, and that should walk you right thru it.
Thank you for your post. I edited my post to be more exact as I'm helping a friend and now, I want to know the right answer.
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