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NoSoup · 03-19-2004, 05:11 PM

I have a question for you, if you don't mind.

I am about to begin making a relatively high income, and have absolutely no tax shelters other than my retirement accounts.

I am 20 years old and live in an apartment. Within the next year, I will probably make 150k-250k, and I am unsure as to what I can write off.

I will be using my personal money for business expenses, as well as my own vehicle, and I believe that I can write that off, but other than purchasing real estate, do you have any suggestions?

Also, to write off utilizing my personal funds for business expenses, how exactly would I go about doing that? Do I keep reciepts? Log the mileage on my car?

Thanks in advance!

03-19-2004, 05:11 PM	#38 (permalink)
NoSoup Non-Rookie Location: Green Bay, WI	I have a question for you, if you don't mind. I am about to begin making a relatively high income, and have absolutely no tax shelters other than my retirement accounts. I am 20 years old and live in an apartment. Within the next year, I will probably make 150k-250k, and I am unsure as to what I can write off. I will be using my personal money for business expenses, as well as my own vehicle, and I believe that I can write that off, but other than purchasing real estate, do you have any suggestions? Also, to write off utilizing my personal funds for business expenses, how exactly would I go about doing that? Do I keep reciepts? Log the mileage on my car? Thanks in advance!