Small Business Question

[robrob]

What is the name of your state (only U.S. law)? Virginia

I have a full time job that I work from home with, but have started a side business in 2008. It is a Computer company where I do software programming for others. I also run a website that makes money off advertising (It is a Sportbike related website).

I have some questions regarding deductions:

1) Are website hosting fees (for my sportbike website) deductible? I paid estimated taxes and claimed the income from the advertising I make off the site in my taxes.

2) I bought a DSLR camera + Lens for photographing races at local tracks for the website. Is this deductible because it is business related?

3) Since I work from home for both my full time job and side business and use the same space, is this space in my house deductible?

thanks!

[LdiJ]

Originally Posted by robrob

What is the name of your state (only U.S. law)? Virginia

I have a full time job that I work from home with, but have started a side business in 2008. It is a Computer company where I do software programming for others. I also run a website that makes money off advertising (It is a Sportbike related website).

I have some questions regarding deductions:

1) Are website hosting fees (for my sportbike website) deductible? I paid estimated taxes and claimed the income from the advertising I make off the site in my taxes.

Yes, they are deductible.

2) I bought a DSLR camera + Lens for photographing races at local tracks for the website. Is this deductible because it is business related?

Yes, either deductible as a 179 expense or depreciable, depending on your circumstances

3) Since I work from home for both my full time job and side business and use the same space, is this space in my house deductible?

That gets a bit more complicated. You need a consult with a local tax professional.