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How Do You Pay For Your Interenet Service?

UserPost

3:37 am
December 10, 2012


Club Thrifty

Member

posts 251

Here is another tax question for you U.S. peeps: do you pay for your internet service out of your business or personal checking account? Currently, we are paying for our domain name and hosting from business, but our internet service through personal. I plan to take a personal dedction on that cost. Is that the best way to do it, tax wise?

9:05 am
December 10, 2012


Edward Antrobus

Fort Collins, CO

Member

posts 1008

I don't have a business account, I do all of my business transactions from a personal checking account. I'm not going to bother trying deduct internet as a business expense because 1)it's too difficult to separate out the time I'm blogging from liking funny pictures on Facebook and 2)my internet usage is negligible compared to that of my wife and our roommate with their MMO's.

 I'm looking for editors, beta-readers, and some demographic research for my upcoming novel, Once Upon a Saturn Moon. If you like reading soft sci-fi thrillers, maybe with a touch of romance thrown in, you can find more information at http://seampublishing.com/once…..aturn-moon

If You Can Read, You Can Cookhttp://www.ifyoucanread.com | Think you can't cook? If you can read this sentence, then you can.

SEAM Publishinghttp://www.seampublishing.com | eBook formatting and publishing service

10:49 am
December 15, 2012


FamilyMoneyValues

Member

posts 812

Our internet is on our personal account – like Edward, I think it would be too hard to separate it out.  I do use a business account for hosting, domain names and etc… though.

FamilyMoneyValues
Blog: http:blog.familymoneyvalues.com
Facebook: http://www.facebook.com/Family…..neyValues/  

3:17 pm
December 15, 2012


BeforeYouInvest

Member

posts 54

I pay for it out of my personal account, but on my taxes I take a % based on the amount of square footage my office takes up of my house's total footage.  

My accountant then applies that % to my heat, utilities, phone and internet bills.  

3:25 pm
December 15, 2012


Edward Antrobus

Fort Collins, CO

Member

posts 1008

BeforeYouInvest said:

I pay for it out of my personal account, but on my taxes I take a % based on the amount of square footage my office takes up of my house's total footage.  

My accountant then applies that % to my heat, utilities, phone and internet bills.  

I wold consider something like that, but my office isn't dedicated to "business" purposes. I use my computer as much for entertainment as I do for an income-generating efforts, and my wife's computer is about 3 feet from mine and is used exclusively for leisure activities such as Facebook and video games.

 I'm looking for editors, beta-readers, and some demographic research for my upcoming novel, Once Upon a Saturn Moon. If you like reading soft sci-fi thrillers, maybe with a touch of romance thrown in, you can find more information at http://seampublishing.com/once…..aturn-moon

If You Can Read, You Can Cookhttp://www.ifyoucanread.com | Think you can't cook? If you can read this sentence, then you can.

SEAM Publishinghttp://www.seampublishing.com | eBook formatting and publishing service

4:36 pm
December 15, 2012


BeforeYouInvest

Member

posts 54

Edward Antrobus said:

BeforeYouInvest said:

I pay for it out of my personal account, but on my taxes I take a % based on the amount of square footage my office takes up of my house's total footage.  

My accountant then applies that % to my heat, utilities, phone and internet bills.  

I wold consider something like that, but my office isn't dedicated to "business" purposes. I use my computer as much for entertainment as I do for an income-generating efforts, and my wife's computer is about 3 feet from mine and is used exclusively for leisure activities such as Facebook and video games.

Yea mine is really a corner of the living room that I also use for entertainment, but it's legit because I do this full time and I couldn't do my job without internet, heat, power, etc.   I use my macbook for everything personal and business but again without it I wouldnt be able to do any of my work.  

It certainly never hurts NOT to claim something, but if you can justify it with a reasonable argument I don't see anything wrong with it.  It's not like you're writing off football tickets and going out to dinner with the wife Wink

9:46 am
December 16, 2012


My Personal Finance Journey

Member

posts 3159

Post edited 9:47 am – December 16, 2012 by My Personal Finance Journey


I pay for Internet out of my personal account and then deduct I believe half of it on my taxes. 

Jacob @ My Personal Finance Journey

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Email me jacob@mypersonalfinancejourney.com

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12:53 pm
December 18, 2012


Eric – PersonalProfitability.com

Portland, OR

Member

posts 2120

I pay it from my personal account and give my accountant an estimated percent of internet use from my blogging business for a deduction.


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