How to Write Off Your Clothes Legally (100% TAX FREE)

  Рет қаралды 21,825

LYFE Accounting

2 жыл бұрын

Learn how to write off your clothes in 2022 because once become self-employed or a business owner, you have so many tax deductions are available to you including writing off clothing.
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And of course, you want to follow the correct way so that you don't get in trouble with the IRS…
But if you watch this entire video then not only will you have a strong idea of how to write off clothes, but you will also gain a better understanding of how to take other tax deductions as well.
So in this video, what I want to do is cover
- What you can and cannot write off
- How to write off clothes
- And types of clothing expenses you cannot write off
Timestamps:
Intro (0:00)
#1 The rules for tax write offs (1:20)
#2 How to Write Off Clothes (2:50)
#3 What Types of Clothes Can You Write Off (5:25)
#4 Clothes You CAN NOT Write Off (8:50)
#5 BONUS TIP (10:22)
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How to Write Off Lifestyle Expenses: kzbin.info/www/bejne/rnfdiJ6eabqFr9k
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

Пікірлер: 58
@franceswalker2627
@franceswalker2627 2 жыл бұрын
Thanks for the clarification about clothing. I was wandering about embroidering my company logo being considered as a deduction and you cleared that up. lol. You explained it well and you were very succinct.
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
Glad it was helpful, thanks Frances!
@t-tradenow
@t-tradenow 2 ай бұрын
Great video. I love the background. What software/ tools can I use for similar background results ?
@jcjc4569
@jcjc4569 2 жыл бұрын
Question 1: What if I buy a plain t-shirt and I iron on my business logo? Are both tax deductible or just the iron-on business logo? Question 2: I buy a plain t-shirt that I ONLY use at my retail business store and I always have a pin button of my business logo on that shirt all the time. That shirt with the pin button stays in the store during closed hours. Is the t-shirt tax deductible?
@23kim
@23kim 2 жыл бұрын
Option 1- promotional attire. Option 2- The pin is not a part of the clothing. It can be removed, making the shirt suitable for everyday wear in a way that would not identify the business or occupation. Doesn't matter if you wear it outside of work; what matters is IF you can.
@roxyloraine
@roxyloraine 5 ай бұрын
This was very helpful; thank you! Are there any differences in the rules regarding whether the clothing is only being rented vs. purchased? Services such as Rent the Runway provide subscriptions to rent clothing varying from gowns to everyday attire.
@ZerostoHeros
@ZerostoHeros 2 ай бұрын
Pure gold every video
@TheRonellCross
@TheRonellCross 2 жыл бұрын
Dope video as always. Very insightful indeed. THanks for sharing this. "You may be able to justify the clothing worn for content if your brand name or logo is on it". I'm about to go to Printful and put my logo on everything. haha!
@ManuelPerez-ih1cv
@ManuelPerez-ih1cv 2 жыл бұрын
That's what I do. I even have my son wear my clothing
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
Become a walking billboard 💯
@abbieamavi
@abbieamavi Жыл бұрын
@@LYFEAccounting I have my channel name tattoed on my body, can I write that off? 😂I have "veni vidi amavi"
@haydenwiley9115
@haydenwiley9115 9 ай бұрын
You guys are seriously the greatest
@shayrich7783
@shayrich7783 2 жыл бұрын
I'm not trying to be funny, but these are real questions some women may have. Can hair maintenance expenses be deductible when filming KZbin videos, doing photo shoots to make marketing content, or when interacting with clients? (for self employed consultants)
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
Great question, Shavoon! So, yes you can write off photoshoots related to marketing and most expenses incurred while working with clients. As it relates to hair maintenance, that one is a bit grey because the hair needs to be an ordinary and necessary expense for the business. If your KZbin channel is within the beauty industry that may qualify
@TheGlamEmpress
@TheGlamEmpress 2 жыл бұрын
I have an account and last year I was able to write of beauty maintenance such as nails, hair, lashes etc because I’m a fashion and beauty influencer , model and own a hair company. I do my own book keeping and I save all of my receipts. Make sure to save and file everything just in case you do get audited. ✨💕
@kam5333
@kam5333 Жыл бұрын
What about people who do reviews of products? Such as backpack reviews or clothing reviews youtube channel/blog?
@catchison8671
@catchison8671 2 жыл бұрын
Great video... I have some theatrical clothing and costumes that definitely not suitable for everyday wear...for example...my Bichon Frise costume 😆 🐕🐩🤣😂 Thank you for sharing this great video explaining more tax deductions!!!
@babakhanyile8854
@babakhanyile8854 Жыл бұрын
Great job on your content, well understood 🙏🏾
@abbieamavi
@abbieamavi Жыл бұрын
As a Flight Instructor who makes content/videos on Aviation, can I write off a new headset for flying? fantastic video as always! thank you :)
@nstv23
@nstv23 7 ай бұрын
So if I own a clothing brand and want to buy a competitor garment so I can analyze the quality the type of materials used stitching techniques and overall style it can't be deducted because I could wear it even though it might be essential to make sure we are no copying it to avoid lawsuits since we plan to do something similar?
@laclipperhandsthebarbur
@laclipperhandsthebarbur 2 жыл бұрын
Great Video I honestly never knew you could do this
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
As a barber, you definitely can get creative with this!
@ReallyBobbyRich
@ReallyBobbyRich 7 ай бұрын
so what if the clothing is given in exchange for advertisement and marketing wouldn’t it make it a expense that can be exempt?
@FinancialFreedomMadeSimple
@FinancialFreedomMadeSimple 2 жыл бұрын
Thanks for sharing this vid.
@sbennet1447
@sbennet1447 Жыл бұрын
Question: I will shortly be starting a handyman business. I'm having a hard time understanding that I cannot deduct either tops or bottoms when the very quickly become unsuitable for wear outside of work -- get torn, soiled with paint, caulk, etc, perhaps on the first day. I understand I they can be deducted if logo'd or have company name and that works for tops (t-shirts, polos, etc) but what about pants ? They don't usually logo pants. Thoughts ?
@nextdoor280
@nextdoor280 Жыл бұрын
So if my job requires me to wear Nike clothes cause we sponsored by Nike is that taxable ?
@LauraHernandez-de8gj
@LauraHernandez-de8gj 2 ай бұрын
What if u own a business u have uniforms with logo and u wash them yourself. The washer breaks, can that washer be a deduction?
@drockoe1522
@drockoe1522 10 ай бұрын
Do work jeans for construction worker count as a tax write off. Technically you could wear the jeans outside of work but I wouldn't because they're always dirty and have like grease on them or whatever
@DP-lx1jn
@DP-lx1jn 8 ай бұрын
Awesome video what a lawyers suits for court
@annieoakley17
@annieoakley17 9 ай бұрын
What if you buy the a dress for a formal holiday business party and consign it?
@Remy-dl6nc
@Remy-dl6nc 2 жыл бұрын
What if my company is contracted to another company but I pay myself from my company as a W-2 employee. Can I still write off clothing? Or no?
@BigChilix3
@BigChilix3 Жыл бұрын
How about jewelry such as custom chain with my business logo if I’m in the entertainment industry?
@CamRowdy
@CamRowdy 2 жыл бұрын
So if you are a clothing boutique company I'm guessing you are not able to write off clothes for your photoshoots that you are advertising for sale?
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
That actually sounds like a great tax write off. As long as you’re saying that the clothes will be available for sale? Thats essentially inventory/costs of good sold and advertising expenses
@CamRowdy
@CamRowdy 2 жыл бұрын
@@LYFEAccounting Thanks!
@evos469
@evos469 2 жыл бұрын
You can't do that that's "double dipping" the tax write off.
@rayonwright9195
@rayonwright9195 2 жыл бұрын
So if I’m employed and still has a LLC and paying for my uniforms at my W2 job, it that tax deductible?
@rashimajackson9022
@rashimajackson9022 Жыл бұрын
Thank you!
@supreme3804
@supreme3804 2 жыл бұрын
what about designer clothing…can this be written off …
@RamaHealthBeauty
@RamaHealthBeauty 2 жыл бұрын
Hi, is it the case for canadian youtuber?
@clemongarner3651
@clemongarner3651 Жыл бұрын
Please 🙏 more videos please
@CharlesTerrenceHarper
@CharlesTerrenceHarper 2 жыл бұрын
Good video
@clemongarner3651
@clemongarner3651 Жыл бұрын
Yes I like it
@serpanot2024
@serpanot2024 Жыл бұрын
can car and gas be tax deductible 100% of the time, even if you drive it for personal use 50% of time, if you slap your logo on it? because arguably, you are promoting your business 100% of the time.
@smallbiztaxlady
@smallbiztaxlady 2 жыл бұрын
This was definitely click bait! lol. I had to watch the video to see what you were saying, because I was about to post every tax court case that says you can't take clothing deductions.
@evos469
@evos469 2 жыл бұрын
Clothing if it's not safety, company branded, or outlandish in general don't write it off.
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
You sound like an accountant? 🤔
@evos469
@evos469 2 жыл бұрын
@@LYFEAccounting I'm the other guys
@CapitalWorksPro
@CapitalWorksPro 2 жыл бұрын
What crap, that ordinary people get the 5th degree on their write-offs, but Trump is a "brand" and writes off his needlessly expensive haircuts.
@LYFEAccounting
@LYFEAccounting 2 жыл бұрын
Wait. That’s new to me, Trump writes off his haircuts??
@CapitalWorksPro
@CapitalWorksPro 2 жыл бұрын
@@LYFEAccounting Google "Trump Took $70,000 in Tax Deductions for Hair Care"
@akialanae9497
@akialanae9497 2 жыл бұрын
I had a coworker who used to be a stripper. She wrote off everything, hair, nails, makeup, dermatologist care, all clothing, dance lessons, music purchases, car, mileage, colored contacts, pretty much everything she bought that weren't bills.
@joshshumway1971
@joshshumway1971 2 жыл бұрын
You have the same opportunity to do the same thing he did. Don't hate the player, hate the game..
@CapitalWorksPro
@CapitalWorksPro 2 жыл бұрын
@@joshshumway1971 you do not. What he did was not justifiable, and under an audit, you would lose your case. Do not ever give this advice to people, as tax advice.
@shotbyskill
@shotbyskill Жыл бұрын
Thank You!
@flippingout3782
@flippingout3782 2 жыл бұрын
Thank you!
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