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Thinking about starting a vending machine business. Do you
Thinking about starting a vending machine business. Do you need any kind of business license to write off cost of vending machines and mileage to service said vending machines? … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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I have a vending machine company with 5 machines. I'm very
I have a vending machine company with 5 machines. I'm very confused on what Products i need to pay sales tax to the Comptroler for. I went tax exempt when I purchase but I'm not sure if that was the r… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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My wife and I have a small farm and have a small apartment
No. My wife and I have a small farm and have a small apartment that we rent as a vacation rental. We've spent a lot of money creating a pet friendly farm for people to visit. We have miniature donkeys, ducks, chickens, dogs,cats. In the past we filed a 1040 and added our rental income. We'd like to recover some investment we've spent on creating a brand but n't want to file as a hobby farm because there are no real deductions. We sell eggs for a small return. Could we files as a fram or a business? … read more
taxmanrog
taxmanrog
Master's Degree
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I am selling my business in an asset purchase. The price is
The price is 132,000. The buyer needs an asset allocation schedules for machines goodwill, inventory, auto. … read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
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I have friend with tax Question. He and s wife have had a
I have friend with tax Question. He and his wife have had a contracting business for years. It has lost money the last few years and they attempted to switch if over to or augment their money with a v… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
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We've always done a joint filing, mine being from my
We've always done a joint filing , mine being from my contracting biz. the expenses for this have always been broken down for supplies , advertising, office expenses, utilities etc. This past year I d… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I purchased a business this year. The price allocation on escrow
I purchased a business this year. The price allocation on escrow papers is not correct. Total purchase price of the business is 640,000. In the escrow papers, $30,000 is allocated for non-compete agre… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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I am a sole proprietor owner of a small vending service in
I am a sole proprietor owner of a small vending service in Illinois. In 2012 I purchased used vending machines from different owners off of Craigslist classifieds. Each transaction was documented with… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
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I have a home bakery and this is my first year filing Schedule
I have a home bakery and this is my first year filing Schedule C. #1 I gave away 14 cakes this past year as a form of advertising. May I deduct the cost of ingredients and mileage to deliver them? and… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I PURCHASED AN ESTABLISHED BUSINESS(MECHANIC SHOP) IN MARCH
I PURCHASED AN ESTABLISHED BUSINESS(MECHANIC SHOP) IN MARCH 2010 FOR 25,000. HOW DO I REPORT THE PURCHASE ON MY SCHEDULE C. 20000 WAS MACHINERY AND 5000 GOODWILL. I DID NOT BUY THE BUILDING.… read more
CGCPA
CGCPA
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Im very confused about section 179 depreciation rules. I
I'm very confused about section 179 depreciation rules. I bought a dry cleaning business in 2010 which included a significant amount of equipment. The business was a going concern, so the equipment wa… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
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Question is, we closed our business. No employees etc. but
Question is, we closed our business. No employees etc. but we had assets "vending machines' we disposed of by giving them away. How do I put this on my P&L Statement. they were worth about 10000.… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
I live in co. and recently purchased a number of vending machines.
I live in co. and recently purchased a number of vending machines. Im trying to come up with a plan to submit to co. gov for the payment of sales tax on the purchase of the machines. I would like to h… read more
Merlo
Merlo
Tax Consultant
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I started a vending business in 2009/ I bought 30 new machines/
I started a vending business in 2009/ I bought 30 new machines/ a plaacement servicxe a onetime fee/ and camdy(inventory/ I sated late in year and had sales o only $800 / what can I deduct for 2009 an… read more
RD
RD
Self Employed
Master's Degree
1,129 satisfied customers
I bought 35 vending machines and I am running as a sole proprietor.
I bought 35 vending machines and I am running as a sole proprietor. I want to write off my start up costs on my taxes. Do I need to have a business license already secured to do this? Also, can I writ… read more
Guru_Guy
Guru_Guy
Doctoral Degree
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We are a vending machine business and could not afford to ...
We are a vending machine business and could not afford to pay sales and use tax for many months. I would like to know that if backed sales taxes negotiable ? Is there any way to get rid of the penalti… read more
Vi
Vi
High School or GED
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Scenario Gave to charity (Salvation Army) 3 Vending ...
Scenario: Gave to charity (Salvation Army) 3 Vending Machines purchased in 2002. Donated 11/2007 as "the business" was unsucessful...Desolved in 2007. I have purchase receipt info (paid $17,987.00 for… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
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i have 15 vending machines i owe on them i pay 1300.00 ...
i have 15 vending machines i owe on them i pay 1300.00 month for all machines i put them on form 4562 last two yrs depreciation put i still owe two more yrs on them can i take off the payments that i … read more
Wayne Brasch
Wayne Brasch
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