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> So you form "3d printing shop" company and put some money in (loan, services...). Company purchases 3d printer, but does not pay any taxes on printer, it is a
by rkk3 5y ago
> So you form "3d printing shop" company and put some money in (loan, services...). Company purchases 3d printer, but does not pay any taxes on printer, it is an expense.
But you already paid the 5k in Income Tax, when you initially earned the 10k that you put in the company to buy the printer. How does that save 5k? I think the business needs revenue.
- mjh2539 5y agoYour net income is lower when you claim the 5k loss for the business.
- ghaff 5y agoIt depends on the structure of the business, etc. You're probably going to spend as much on accountants as the few hundred dollars you might save, assuming you don't get audited.
- burntoutfire 5y agoIt only works if the 3d printing really brings in some revenue. Otherwise, buying a 3d printer in a business that is doing something else (say, software consulting) cannot be counted as a cost.