I have an equine related business and I have horses at home.
If I take photos of the horses and use them on the website, use them on my Facebook page, use videos of them for marketing put promotional gear on them while competing, or use them for demos can I write off their everyday expenses and shows that I enter in as long as they are wearing promotional gear?
Would it be categorized as equine upkeep or equine promotional expenses?
You'll need to sign in or create an account to connect with an expert.
It’s not clear whether you have a profit motive business or a hobby. Can you clarify?
To be deductible, business expenses must be ordinary and necessary. "An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that is helpful and appropriate for your business. An expense does not have to be indispensable to be considered necessary."
What is the business reason for these expenses? If you are advertising for new clients, then it would be advertising. If you are providing ordinary care for your horses, then the gear they wear is probably just a regular upkeep expense, and the advertising expense would be anything you paid for a professional photographer, or to boost the post on social medial. (If you are just showing off on social media and have no real business purpose, then maybe it's not even a deductible business expense.)
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
user17675539749
New Member
erikhedberg
Level 2
jimbobjv
New Member
SusanROA
New Member
noursaleh98
New Member