So I'm declaring a sole protrietership small business to handle income from apps/software/videogames in the future and as I'm getting around to ordering a workstation computer, periferals, desk, office chair...etc it occurs to me that if I jump through the hoops and get my business legally established I could write off these items as business expenses.
Anyone see a reason not to do this?
Are there unseen costs to simply having a business declared?(aside from the initial registrations and such)
I did a bit of research and everything seems in order...
-All items despite being in a home office are being used exclusively for software/content creation or related research. So the idea of an audit doesn't really worry me.
-There are practically no costs that accumulate for simply having a home office workstation ready to go.
-Given the nature of what I work with the cost of the computer ($2,500ish USD) is easily justified and most would agree is actually on the low price range for a content creation workstation.
Any thoughts? Good Idea, bad Idea, be careful of X, most don't think of X?
I'm seriously considering this but I figure I'd better run it by those who know before doing so, thanks in advance guys.
Anyone see a reason not to do this?
Are there unseen costs to simply having a business declared?(aside from the initial registrations and such)
I did a bit of research and everything seems in order...
-All items despite being in a home office are being used exclusively for software/content creation or related research. So the idea of an audit doesn't really worry me.
-There are practically no costs that accumulate for simply having a home office workstation ready to go.
-Given the nature of what I work with the cost of the computer ($2,500ish USD) is easily justified and most would agree is actually on the low price range for a content creation workstation.
Any thoughts? Good Idea, bad Idea, be careful of X, most don't think of X?
I'm seriously considering this but I figure I'd better run it by those who know before doing so, thanks in advance guys.
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