Funny story about my accountant

[ScottsGT]

So Thursday afternoon, I swing by our Tax guy on the way home from work. The wife used to handle all these boring tasks, but now that she's a full time student again, it up to me. So we're basically done with business,and after a 10 min. discussion about our boys and their Boy Scout adventures, I ask him if I should bring in a copy of my $200 tax paid stamp for my supressor I'm in the process of acquiring for taxes paid deductions. He kind of tilts his head sideways, gives me that puzzled look and asks me, "Why in the world do you need a silencer?" Well, thanks to the fine folks that post on The High Road, I had a great answer from a previous thread I started asking for reasons for my Form 4. I whipped it out like I really meant it.
"So I can hear the voices in my head while I'm shooting!"
Need less to say, his eyes got as big as golf balls and after 15 seconds of hearing crickets chirping, he busted out laughing. Then he went into gun stories and then started pulling out guns all around his tax office showing them to me.
I knew I liked my tax man!

 

[Wedge]

That is CLASSIC!

 

[gbran]

Kinda like the marine sniper who was asked by a reporter what he felt when he took out a terrorist.

He answered; Recoil.

 

[230RN]

"Why in the world would you need a silencer?"

"Huh? Whazzat?"

But I like your response better. I love it when someone "outs" him/herself. But it never happens unless you talk it up.

They don't call me "Johnny ConcealedCarrySeed" for nothing.

 

[snorko]

Wait, so i can deduct that?

 

[NGIB]

I am also a gun loving Accountant but there's probably not a lot of us...

 

[230RN]

We've got a lady accountant around here who's (affectionately) called The Bean Queen.

She got her CCW about a year ago.

 

[strat81]

Another gun-toting accountant here.

At first glance, the tax stamp might be deductible. See: http://www.irs.gov/pub/irs-pdf/i1040sa.pdf
Is the NFA $200 stamp considered an excise tax? If so, then no it can't. Might be worth calling the IRS about.

 

[mp510]

Is the NFA $200 stamp considered an excise tax? If so, then no it can't. Might be worth calling the IRS about.

NFA tax is not deductible.

 

[ScottsGT]

NFA tax is a stamp tax. You can not take a deduction for stamp taxes on your income tax return.

Thaks for the heads up. Now I can spend more time talking about guns with him instead of him looking into this matter!

 

[strat81]

NFA tax is a stamp tax. You can not take a deduction for stamp taxes on your income tax return.

Cite please?

According to the instructions for the Schedule A:

Taxes you cannot deduct:
-Federal income and excise taxes
-Social security, medicare, FUTA, and railroad retirement taxes
-Customs duties
-Federal estate and gift taxes
-Certain state and local taxes including taxes on gasoline, car inspection fees, etc etc

 

[mp510]

This from the IRS Publication 17

Transfer taxes (or stamp taxes). Transfer taxes and similar taxes and charges on the sale of a personal home are not deductible. If they are paid by the seller, they are expenses of the sale and reduce the amount realized on the sale. If paid by the buyer, they are included in the cost basis of the property.

I was familiar with the non-deductibility of transfer/ stamp taxes on home sales, and used the same wording.

I just spent about a half hour on the phone with IRS to no avail. They said to call ATF- that they don't even have any references to NFA tax stamps in their IRS resources.

 

[P97]

Might surprise you how many gun loving accountants and tax preparers there is even on this Board. I'm one and love guns and gun people so much I'm a Mod. on a Gun Board.

 

[strat81]

Good info, mp510. I'm not surprised that the IRS has no clue.

Of course, you can always throw it at the wall and see if it sticks. I've seen a lot of stuff fly under the radar that way.

 

[neilbedwell]

I'm yet another accountant who's a "gun toter". Wow, there's a lot more of us out there than I imagined. AWESOME!

Neil

 

[ArfinGreebly]

Accountant

There's another guy I know of who's a [post=3414883]gun-totin' accountant[/post].

I won't [post=3198343]tell you who he is[/post], 'cuz if I did, [post=3093249]Larry Correia[/post] would have to kill me.

 

[rockinrussky]

+1 For gun toting accountants. I'm currently one in training, working my way to eventually becoming a CCW-CPA. Might be a catchy slogan.

 

[thegriz]

Another one

I'm another gun toting accountant.

A couple weeks ago I want to the chiropractor and had to remove my pistol for treatment. I asked if he was comfortable with my taking it out or whether I needed to put it in my car. He enthusiastically told me all guns are welcome in his office. Then we went to grab his favorite 357 revolver to show it to me.

He needs a little work on the rules of gun handling but it was still a great experience.

 

[jhnpeterman]

Accountant here with guns and carry permit. I know of at least 2 other accountants who are the same.

About chiropractors; mine showed me his Colt 1911 he keeps in his office desk.

 

[NGIB]

Damn, never realized there were so many of us. I like the CPA-CCW annotation may have to put it on my next batch of business cards. (Although I'm not a CPA, I work for the Government and I'm a CDFM)...

 

[Intrepid Dad]

I am also a gun loving Accountant but there's probably not a lot of us...

Count me in as a gun loving accountant/CPA.

 

[TaxPhd]

Another one checkin' in. Maybe we can start our own club, the "Pistol Packin' Pencil Pushers" or some such. . .

 

[ThomasT]

If there is anyone here who is not an accountant, please raise your hand.

I stand alone?

 

[TAB]

Another one checkin' in. Maybe we can start our own club, the "Pistol Packin' Pencil Pushers" or some such. . .

"Lead pencils" sounds better.

 

[tilden]

Can a firearm I just purchased be tax deductible, if it is used as a safety precaution for my work? I'm in-and-out of homes all day, in some not so nice parts of town.