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by Keith B
Thu Mar 19, 2020 12:11 pm
Forum: Off-Topic
Topic: Any CPA's here
Replies: 5
Views: 2509

Re: Any CPA's here

I have an overarching LLC as my business. Under that I have 4 DBA’s (Doing Business As alias's). I see you already have a business, so you could do a DBA for the training portion.

Now, as what can be written off, that depends. I am an instructor, so that is one of my businesses and justified by classes and training I provide during a class. I do not put any firearms under the business, because if I fold that portion, it becomes an asset that must be accounted for and I want to keep it. I do write off expenses related to classes (paper, ink, folders, supplied ammo, targets, etc.). I also write off costs of certifications (NRA Instructor renewals, LTC Instructor renewals) and liability insurance for the range. You could probably justify ammo costs for your continued training, but I would only think a portion of that due to personal gain you get not related to instruction.

Be aware though, if you do not make a profit on you business for I believe 3 years in a row, it becomes a hobby business and is no longer valid for deductions.

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