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its tax season--you gun purchase deductable?

Discussion in 'General Gun Discussions' started by rshackleford, Feb 23, 2009.

?

do you claim your guns as deductions?

  1. yes

    16 vote(s)
    21.1%
  2. no

    60 vote(s)
    78.9%
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  1. rshackleford

    rshackleford Member

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    are there any gun purchases which are eligible deductions?
     
  2. larry_minn

    larry_minn Member

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    Sure. It CAN be. IF you are a LEO/Security and it is part of the necessary equipment (like uniform/boots/gloves) depending on job/state/etc.
     
  3. Kindrox

    Kindrox Member

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    Own a company with cash flow. Write off the cost of CHL permits, handguns, ammo and range fees.

    Got audited by IRS last year and he asked about the claimed deductions but did not have a problem with it. Of course our claimed expenses were not extreem either.

    Just imagine yourself face to face with an IRS agent, and explain your deduction. If you can't do it with the IRS agent not present, you won't have a prayer if one is.
     
  4. jakemccoy

    jakemccoy Member

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    I think it's doable in certain instances, for example, if you operate a business where those guns are for the business security or if you make the guns the property of the business.
     
  5. rshackleford

    rshackleford Member

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    how about varmit control as a farmer or rancher?
     
  6. 3pairs12

    3pairs12 Member

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    Unfortunatly I do not fall in to the catergory of people that can write off gun purchases.
     
  7. Hungry Seagull

    Hungry Seagull member

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    What a wonderful dream for me.

    Im just a taxpayer and get no special treatment.

    However Im happy to do my part spending to stimulate the American Firearms Industry and keep them going in time of trouble.
     
  8. CoRoMo

    CoRoMo Member

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    What about membership dues to NRA, SAF, etc?
    Aren't those tax deductible?
    They are nonprofits after all.
     
  9. JWF III

    JWF III Member

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    The NRA (to the best of mt knowledge) is NOT tax deductible. It doesn't make since. I just figure that is one more way the government is trying to quiet them down.

    Wyman
     
  10. rshackleford

    rshackleford Member

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    the argument there is if they are not for profit. if they have the governmental documentation as non-profit then they would be tax deductible.
     
  11. rscalzo

    rscalzo Member

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    some of these thories are a bit dangerious. Better to get the answer from an accountant.

    I deducted them when I was still working with the PD but it was deducted over a multi yera period. It was much of a deduction and made very little difference to the bottom line. an audit would wipe out any savings.
     
  12. Kindrox

    Kindrox Member

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    rscalzo,

    Which theory expressed is a bit dangerious? I was audited, the gun expenses were reviewed by an IRS agent, and he was fine with them.

    Our "justification" is we own a small retail store and the CHL fees, two handguns, ammunition and range fees were for security.

    He questioned the expense like all the others (and was not the reason for the audit) but took no issue with it.

    I don't think the IRS is going to hassle any business that handles money for expensing reasonable gun and ammo purchases. Now if I was trying to expense 25 guns (we aren't a gun related business) and $100,000 ammo bill, I presume the agent's response would have been different. So like anything else, just use some common sense if you think you can claim guns and ammo as a reasonable and necissary business expense.
     
  13. Jorg Nysgerrig

    Jorg Nysgerrig Member

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    I'm not sure if you are serious since it is fairly common knowledge that donations to lobbying groups are not tax deductible. But, I'll answer anyone in the event someone is confused. It's not a government plot. It's because the NRA is registered as a 501(c)(4) instead of 501(c)(3) so they can participate in lobbying and political campaigns. 501(c)(3) groups, the more well-known tax deductible flavor of non-profit, have very strict rules about how politically active they can be while retaining their status.

    If you want to give money to the NRA and have it be tax deductible, you can give to the NRA Foundation which is a 501(c)(3) group. Be aware that money given to them only goes toward grants for eduction, training, conservations, etc, and not toward any sort of political action.
     
  14. Lightninstrike

    Lightninstrike Member

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    Exactly. I mean let's face it, we wouldn't want the Brady Bunch allowed as a tax deduction either. Er, they aren't are they?
     
  15. Jorg Nysgerrig

    Jorg Nysgerrig Member

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    Lightninstrike, they have two separate organizations. The Brady Campaign to Prevent Gun Violence is 501(c)(4) group focused on lobbying and the Brady Center to Prevent Gun Violence is a 501(c)(3) focused on education.
     
  16. Duke of Doubt

    Duke of Doubt member

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    Guns CAN be deductible under certain circumstances. Ordinarily a gun would be depreciated over a period of years as a capital asset, not expensed like a ream of paper. However, the gun may qualify as Section 179 property, subject to the limitations on total Section 179 expenses, and be written off in one tax period. Keep in mind that you must recapture all depreciated expense/Section 179 expense as income if you later sell the gun.

    The deduction, like any other Section 162 expense or depreciation expense, is limited to what is "ordinary and necessary" for your business. If, for example, you operate a for-profit side business in the security consultation and firearms instruction area, you may be able to deduct guns, ammunition and other expenses. But if you deduct so much that the net income falls to negligible amounts, your "business" may get recharacterized as a "hobby" and the expenses disallowed. Likewise, buying a Smith Model 10 and a Remington 700 to instruct novices might be considered "ordinary" while a matched pair of Colt Pythons and an Anschutz with a grand worth of optics might not.

    I personally do NOT deduct firearms-related expenses for tax purposes, as I want to retain the right to move my firearms, ammunition and components into and out of my business operations without having to account for them, and I do not want to have to differentiate as among my firearms and other activities for tax purposes. If it's business income, it gets picked up and reported under the business activity code for that particular business which represents the vast majority of my business activity and business income. The details of how some of my clients may pay me to do stuff related to guns aren't material, so long as any income from that gets picked up and reported.
     
  17. Kindrox

    Kindrox Member

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    That is true, but you can sell the gun to yourself for the depreciated amount. Ammo goes Bang and is gone.
     
  18. Hk91-762mm

    Hk91-762mm Member

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    The NRA (to the best of mt knowledge) is NOT tax deductible. It doesn't make since. I just figure that is one more way the government is trying to quiet them down.


    NRA =NO
    ILA==YES
     
  19. gvnwst

    gvnwst Member

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    I wish i had a buisness in which i could do this, but not yet. YET. Maybe someday...:rolleyes::D
     
  20. jakemccoy

    jakemccoy Member

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    SAF is tax deductible.
     
  21. bonza

    bonza Member

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    Not the guns specifically, but I am a member of a national shooting team (USIMLT) & I can claim any expenses incurred ( travel, accomodation, food, shooting nominations, etc.) while training or competing.
    Also, when I worked in the firearms industry some years ago, I could claim the subscription costs to my shooting magazines, as they were considered 'trade journals'.
     
  22. Cannonball888

    Cannonball888 Member

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    I'm working on getting them dependent status.
     
  23. Birdhunter1

    Birdhunter1 Member

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    I am a quail hunting guide at an upland hunting preserve and I breed Brittany's and sell the pups. So I am able to claim my shotgun, shells, my rifle (varmint control of our released birds) and ammo for that.
    I justify my shotgun shells by this, the more birds I shoot, the better my dogs are, the more I can sell them for.
     
  24. Lightninstrike

    Lightninstrike Member

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    Thanks for clarification Jorg.
     
  25. WardenWolf

    WardenWolf member

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    I am not a lawyer, but these are examples of the types of things that could be considered valid business expenses in the eyes of the IRS:

    1. You purchase a firearm for protection at your place of business. The firearm is stored at the place of business during business hours, and purchased either with company funds or your own. This is thus a business expense, spent on security.

    2. You work in a security or law enforcement position and the purchase was made specifically with the intent of being your carry gun.

    3. Your work involves going into a bad area of town. The company sends out a notice advising or permitting people to carry a firearm as a means of protection. This notice is now justification for classifying the purchase of a carried firearm as a business expense.
     
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