If I have a blog about health and wellness and bought an Instapot pressure cooker to use but also to write review about, is it classed as a business expense?

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AlexEvans Premium
Hi Miri, every tax authority has different regimes and ways of looking at deductible expenses.

There is however some standardizations when it comes to that business and personal use hybrid use of products and services.

A typical one would be the use of a home phone line, some of it would be business use and some personal use. Therefore the deduction would be proportional.

In your case, it would follow that model. Check your tax authorities web site, they will have information regarding deduction regimes.

I would also seek the advice, of a tax agent. They can be helpful, with knowledge but also developing a strategic plan moving forward.

There is a cost involved with buying products to review. It does add up. So working out what suits you will be a good thing for you moving forward.
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MiriBrown Premium
Thank you, Alex, for taking the time to respond and your advice. Have a beautiful day :)
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keishalina9 Premium
hey hi Miri -- good question and it is better for you to present it to your local tax preparer / professional who can best advise you regarding your own personal and or business situation. Every jurisdiction have their own laws & regulations with respect to allowable tax deductions and income reporting requirements.

In the meantime, simply keep all your receipts and present them altogether to your preparer when it comes time to file ...

All the best to you for every Success, cheerio ... :)
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MiriBrown Premium
Thank you, all the best to you too :)
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megawinner Premium
Yes, it is.
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DianeScorpio Premium
Hi - you can't say that for definite, as the tax laws vary from country to country. Mirka is based in the UK, and she will need to abide by the rules of Her Majesty's Revenue and Customs.
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MiriBrown Premium
Hi Diane, thank you for taking the time to reply. Yes, you are right about every country having a different tax law. I will get in touch with my accountant, just to make sure. Have a beautiful day :)
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megawinner Premium
Indeed it could be different from place to place. Yes, you are right. I have no idea about your rules. Thanks.
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JeffreyBrown Premium
There has been some discussion on this before--and there are differing opinions. I'll deduct anything I purchase for review. If I'm corrected later about it on an audit, so be it, but until then, that's what I do and have done. It's up to you to decide what's best in your situation, Mirka!

Jeff
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MiriBrown Premium
Thank you, Jeff, for taking time to respond.
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JeffreyBrown Premium
You're welcome. Mirka--us BROWNS have to stick together!

Jeff
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TheCatherine Premium
it depends on your local tax authority keep the receipt claim it against expenses. The worst that can happen its disallowed
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MiriBrown Premium
Thank you Catherine, I better look into it properly:)
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