Tropical Fish Keeping - Aquarium fish care and resources

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-   -   Tax break? (

CaribTank 01-30-2008 10:28 PM

Tax break?
I mentioned to the LFS guy about setting up my tank in my home office. He said, you know that's office furniture and you can take it as a tax break. True?

herefishy 01-31-2008 12:58 AM

Wow, I wish I'd thought of that. I really don't know. Call H&R Block. lol

bettababy 01-31-2008 01:57 AM

Yes, true, however... it must remain in the office and you must also keep receipts to prove purchase prices. The tank, stand, light fixtures, and I think also filtration together as a setup price and be claimed on federal, the state varies according to the state. It is listed as furniture purchase, which does not include whatever you put in it. I'd call a tax preparer and ask for specifics before attempting it, just to be safe. That's not something you want to get in trouble for because you can't sell it to get your money back out to pay something you screwed up on a tax form.

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