Inspection Expenses

[cadpoint]

Is it a Business Expense to One's company to write off the additional expense of multiply inspections on the companies taxes...

I don't know, I'm just wondering! Seems like an expense to me, out of pocket or otherwise... and I think that it might be allowed.

What Say Ye !

PS, OK, I can't get out from the Job from Hell, and running up the Bill///:wink:

 

[growler]

Is it a Business Expense to One's company to write off the additional expense of multiply inspections on the companies taxes...:wink:

If you are talking about reinspection fees that's a business expense just like the original inspection fees. Mistakes are part of doing business.

If you have pay to park at the job site that can be written off. You can even write off booze if it's for a company party.

 

[Fulthrotl]

Is it a Business Expense to One's company to write off the additional expense of multiply inspections on the companies taxes...

I don't know, I'm just wondering! Seems like an expense to me, out of pocket or otherwise... and I think that it might be allowed.

What Say Ye !

PS, OK, I can't get out from the Job from Hell, and running up the Bill///:wink:

tax inspections? audits? it's a cost of income tax preparation, and is fully
deductible.

 

[satcom]

Is it a Business Expense to One's company to write off the additional expense of multiply inspections on the companies taxes...

I don't know, I'm just wondering! Seems like an expense to me, out of pocket or otherwise... and I think that it might be allowed.

What Say Ye !

PS, OK, I can't get out from the Job from Hell, and running up the Bill///:wink:

I would thing it was a wash, you pay for it then the customer pays you back the fee.

 

[Rewire]

Nothing is a "write off" what you are doing is offsetting income with expenses,all expenses that directly relate to your business can be used to offset income.

If your expenses exceed your income you are operating at a loss.You will have no taxable income.

If your income exceeds your expenses then you are operating at a profit. The amount income exceeds expenses is profit and is taxable at a rate determined by your filling status.

The amont you spend from a dollar to earn that dollar is how you determin profit margin.

 

[Pierre C Belarge]

profit margin.

Is this term defined in the NEC?:grin: