2
2 Comments

Tax write off - for buying computer etc

Doing small apps for hobbies etc. But work in a megacorp and earn 6 figures.

I wonder if some of you do a tax write off based on the side hustle?

  1. 1

    As long as someone is paying you for the side hustle, it's a great idea to write-off computers, etc. You'll have to file a Schedule C, but you don't need to form an LLC or any other business entity. You can take a loss for at least 3 years before the IRS questions whether it's a business or a hobby.

    1. 1

      PS, it's considered "business equipment" a Section 179 tax deduction

Trending on Indie Hackers
After many failed product attempts I bootstrapped a file uploading service to 1K MRR in 6 months - AMA! 50 comments Twitter 101 for Indie Hackers 17 comments Do you crosspost your articles on multiple platforms? 11 comments Catching up to my main competitor Veed 10 comments I've teased this project for a while. Initial thoughts on this landing page? 7 comments I built an NFT Guide site. Feedback welcome! 7 comments