Monday, October 26, 2009

Are there any tax write-off's for clothing store owners who buy the clothes they sell?

I own a small clothing store, at which I buy clothing for cost and wear it at work. It is the same thing as a uniform because I use it to represent and sell my products and services. I couldn%26#039;t wear clothing to work that I don%26#039;t sell. Are there any sort of %26quot;uniform%26quot; or tax credits for this? I know this may seem like I just want to write off the cost of my wardrobe (which isn%26#039;t a lie), but I would like a legal way to do it, since I couldn%26#039;t wear old raggedy clothing to work at a high-end clothing store.



Any ideas?



Are there any tax write-off%26#039;s for clothing store owners who buy the clothes they sell?

No.



These are personal expenses even if the clothes are nicer than what you usually buy.



Are there any tax write-off%26#039;s for clothing store owners who buy the clothes they sell?

I think that you should ask an accountant who knows the tax laws or can research it for you.



Certainly when the store purchases clothing, the clothes go into inventory, and into %26quot;cost of goods sold%26quot; when sold. If you wear them often and wear them out, certainly the store could write them off, I would think.



Are there any tax write-off%26#039;s for clothing store owners who buy the clothes they sell?

Clothing suitable for ordinary street wear is not deductible. Lawyers can%26#039;t deduct their three piece suits and wingtips, why should you be different.



Are there any tax write-off%26#039;s for clothing store owners who buy the clothes they sell?

No, by tax law it%26#039;s not %26quot;the same thing as a uniform%26quot;, and no you can%26#039;t deduct it.

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