Posted: 2/14/2009 9:39:28 PM EDT
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i've recently bought a eotech setup for around $900 for my ar-15/use on a deployment am i able to write this off? if so will i get the full amount reimbursed, and can i write off ammo also? |
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If you are in the military you can write off duty expenses to include dry cleaning. If you are really going to use the EoTech while deployed, I wouldn't see why not? You can also write off steel-toe boots as duty equipment if you need them and can't get them issued.
ETA: I wouldn't push my luck on the ammo thing since that should be provided for you. |
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Quoted:
If you are in the military you can write off duty expenses to include dry cleaning. If you are really going to use the EoTech while deployed, I wouldn't see why not? You can also write off steel-toe boots as duty equipment if you need them and can't get them issued. ETA: I wouldn't push my luck on the ammo thing since that should be provided for you. well am in the reserves so i dont get much range time and when we do i am a range safety so i really only shoot the m9 pistol if am lucky |
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Quoted:
Quoted:
If you are in the military you can write off duty expenses to include dry cleaning. If you are really going to use the EoTech while deployed, I wouldn't see why not? You can also write off steel-toe boots as duty equipment if you need them and can't get them issued. ETA: I wouldn't push my luck on the ammo thing since that should be provided for you. well am in the reserves so i dont get much range time and when we do i am a range safety so i really only shoot the m9 pistol if am lucky Well, if you really are going to take it on deployment, claim it. It might save you $30 on your taxes. You know you can claim dry cleaning, clothing, web gear, boots, backpacks, helmets, gloves, and other items that you paid for out of your own pocket and were not reimbursed for as long as they are for work right? You can't claim stuff that was issued to you for free or stuff that you were paid back for like on a travel voucher. Personal ammo that is not used on duty would also not be allowed. |
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Naturally, you would want to consult an experienced tax professional instead of an internet posting.
That said, it would be a DEDUCTION of Adjusted Gross Income (AGI) in some way shape or form. Example: You made 50k in the past year. You spent 1k on eotech+ammo in the same past year. Your "AGI" would be 49k now; and this is what you pay taxes on. The keys to look for are CREDITS because they work differently. Example: You made 50k in the past year. We'll say your AGI is 50k (which would mean absolutely no deductions) for simplicity here. You are in the 25% tax bracket, so you paid 12,500 in taxes the past year. You paid some college tuition in the same year. The max value of the credit which you could claim is 2,000. Since you claim this credit, you are only liable for 10,500 in taxes, so you would get a 2,000 refund. See the difference in how deductions vs. credits work? |
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Quoted: If you think a tax deduction equals a reimbursement, you are in for a bit of a surprise. +1 All a deduction does is deduct the amount of purchase from your total taxable income. In other words, if you made $50k last year and deduct the purchase, you'll owe income taxes on $49,100. You won't receive a $900 reimbursement. ETA: I was beat by ImpulseTaco. Well said, sir. |