knives and taxes

any of pros here who knows if kitchen knives are tax deductible?

tax season's coming up, I'm wondering if I can get some of my money back from all the knives I purchased last yr….

how about R&D dinners, kitchen equipment/tools?

Karlo

In Canada they are...

jklip13 said:

In Canada they are...

Click to expand...

never knew never knew!

in germany they are.

In Australia they are as well , as a chef I can even go claim dinners for marketing research to check other restaurants( minus gratuity and booze ) , I claim my stones and knives as well

In Sweden also. If you work as a chef you can get money back from the taxes

chefcomesback said:

In Australia they are as well , as a chef I can even go claim dinners for marketing research to check other restaurants( minus gratuity and booze ) , I claim my stones and knives as well

Click to expand...

Nice

Well there goes 80% of the right off .... damn it! :O

chefcomesback said:

In Australia they are as well , as a chef I can even go claim dinners for marketing research to check other restaurants( minus gratuity and booze ) , I claim my stones and knives as well

Click to expand...

What about UK?

I think in the US you can claim work related expenses that exceed 3% of your gross income.

TheDispossessed said:

I think in the US you can claim work related expenses that exceed 3% of your gross income.

Click to expand...

Therefore, buy more earn less :dazed:

Timely thread, I was just thinking about starting one in the same vein.

Damn, I should get a PT job to claim knives/stones. Probably too late to claim purchases retroactively

What about when you buy knives off BST? It must look less credible to an accountant than say buying from an established business like JCK, JNS etc

If you tell me you bought it for XXX.XX off BST, I'll deduct it, if all applicable rules apply. It will be the IRS that you will have to show documentation to.

If the CRA were to audit you, you'd need documentation such as invoices or copies of PayPal emails. I got that once for bus passes while still in school. I would think that ideally a note would've been included to the seller when the payment was sent as to what the purchase was for

USC 2012 said:

If you tell me you bought it for XXX.XX off BST, I'll deduct it, if all applicable rules apply. It will be the IRS that you will have to show documentation to.

Click to expand...

I track and document all PayPal transactions when buying off BST.
Yes, my accountant makes adjustments for my equipment, my research and R&D. It helps.

I think, to remain perfectly legal, you need to separate your home use from your professional use. Not sure on the 3% part since I've never had to deal with that but if you keep the knife at home and only bring it to work only once in a while, you could be standing into danger. That being said, I don't know what the threshold for the work related tools percentage for deduction is before they start "looking" at you is. To be "safe" if you keep it at work all the time then 100% deduction, otherwise percentage of use at "home" is not deductible and the part that you use it at work is. If you don't report your occupation as a chef or cook or otherwise accepted culinary occupation you may be pushing it with the IRS for deductions on knives.

For our Canadian friends....please please please make sure your CRA doesn't talk to our idiot politicians so they figure out they can tax knives......pretty please