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Hokie CPA

Joined: 10/28/1999 Posts: 79477
Likes: 9047


Unless you're in the business of staging swinger parties.


If you have a legitimate business where you rent out a venue in a hotel or something and have swingers pay a fee to meet up there, then expenses are deductible As long as everything's legal. Expenses for the generation of illegal income are not deductible.

Interestingly enough, the federal government still considers the sale and distribution of marijuana to be illegal -- even in states that have legalized the practice. So these businesses in Colorado, California, and everywhere else where marijuana is legal, cannot deduct their expenses on the federal income tax returns.
[Post edited by Hokie CPA at 02/26/2018 1:32PM]

(In response to this post by dolph)

Posted: 02/26/2018 at 1:00PM



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My new look -- Full-Set and Moonshine 02/26/2018 11:55AM
  Darn FS&M, I liked the DaisyWV name:) ** -- AZHokie59 02/26/2018 10:21PM
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  That is a full set, no doubt. Well done. ** -- Brown Water 02/26/2018 3:01PM
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  Another WV chick too ** -- Full-Set and Moonshine 02/26/2018 3:55PM
  Re: Another WV chick too -- statmanfromHCyrs 02/26/2018 4:21PM
  No one has ever stated -- Full-Set and Moonshine 02/26/2018 5:16PM
  Interesting....it didn't change any previous posts ** -- statmanfromHCyrs 02/26/2018 12:05PM
  You can't just go in a profile and edit a handle name? ** -- statmanfromHCyrs 02/26/2018 1:10PM
  This has to be the nerdiest post you've ever written. -- John Donna Choi  02/27/2018 2:20PM
  The old posts don't even appear to be selectable. -- Hokie360 02/26/2018 9:26PM
  No, Will or Chris have to change from their side ** -- Full-Set and Moonshine 02/26/2018 1:14PM
  I was asking Will :-) -- statmanfromHCyrs 02/26/2018 1:29PM
  That's correct. -- Full-Set and Moonshine 02/26/2018 12:06PM
  Swinger parties are not tax deductible ** -- dolph 02/26/2018 12:00PM
  Damn. Are you positive? ** -- Full-Set and Moonshine 02/26/2018 12:04PM
  And the obvious question is....Full set of... -- Late 80s Hokie 02/26/2018 12:00PM
  I was thinking at first -- Full-Set and Moonshine 02/26/2018 12:03PM
  This being the lounge I will go with -- santafe 02/26/2018 12:09PM
  No, really? ** -- Full-Set and Moonshine 02/26/2018 12:09PM
  ...teeth. ** -- vthokieq 02/26/2018 12:02PM
  Must be daisyWV. I like the "new look". ** -- 91HokieBob 02/26/2018 11:59AM
  Thanks! ** -- Full-Set and Moonshine 02/26/2018 12:00PM

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