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Posted by Laura on June 8, 2008, 1:05 pm
Please log in for more thread options > aps wrote:
> [...]
>> Well first of all, not ALL magazine and book subscriptions are deductible
>> as business expenses.
>
> Of course not, just the ordinary and necessary ones ("necessary" does not
> mean "indispensable", per IRS Pub 535).
>
> Trade magazines, manuals and catalogs and the like dedicated to one's
>> line of business would be examples of deductible subscriptions and
>> purchases would be classified as subcription or trade publications
>> expenses.
>
> Yes, Pub 535 specifically mentions those.
>
>> However, subcriptions to your local paper or Newsweek, People mag or the
>> like would not be deductible so the first thing one has to do is
>> distinguish between what is a deductible business expense as opposed to a
>> personal expense which is not deductible, even it they are for use by
>> your customers to pass time until their appointment (as in a doctor's
>> office). David Bemiss, CMA, EA
>
> A daily newspaper delivered to a breakfast cafe, Newsweek or People at a
> fast-oil-change place, general-circulation gossip and style magazines at a
> hair salon, a TV in a bank lobby showing cable news and entertainment,
> satellite radio piped into the entire workplace -- I'm curious how in the
> world you might come up with any or all of these being personal,
> non-business expenses?
>
> Even if the employees have time to browse the magazines on the job, that's
> just de minimis fringe benefit with no tax impact.
And what if there were no employees? Would you call these a business
deduction or something used personally by the business owner?
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