Auto Insurance Forums
Turning a hobby auto website into a business to deduct expenses?
Question about taxes and a car-I know that you can’t put an ad for a business on your personal car and claim the car as a deduction.
But what if your business is a car website/forum for a specific model of car? The site/forum shows how to do car maintenance, answers other’s questions, install power upgrades and aftermarket parts, making misc. modifications, and blogging about the experiences and daily driving mileage. The only income will be from google ads and bumper stickers and is very small.
I would only take a hobby and turn it into a business if I can claim the personal car as a business expense since the business IS writing, modifying, all about the car.
The expenses are the purchase price, depreciation, car parts/ modifications, gas, registration, insurance, parking space, tools to work on the car. The purpose is to add content to the site and are all exclusively for the website’s car. Even if I can only claim the cost of car mods and tools, this is over $5k/year.
Read about self employed filing
read http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html
