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Can I Deduct Toys From Taxes?
Here’s what the CPA’s have to say
According to the IRS, you can deduct any expense that is directly or indirectly related to your profession.
In this case, if you are a content creator, and create a video featuring children’s toys, you can deduct the cost of all the items including the toys and games used in creating the content. You can claim these deductions as supplies under Schedule C.
Attempting to secure the deduction outside of the proper profession may lead to an IRS audit.
Can I deduct toys from taxes?
Tax deductions for toys are hard to come by unless you're in the right profession or donating them to a charitable organization.
Table of contents
Can you claim children’s toys as a business expense?
According to the IRS, to count as a deduction, an expense must be ordinary and necessary. Toys are generally considered as a personal expense but if you’re giving away toys to charity, then it can be considered a legitimate deduction.
Similarly, if you are a part of the childcare industry, you can deduct the cost of toys and games that you provide for the children under your care.
Some common freelance professions where you can claim toys as a deduction include:
- Daycare owners
- Content creators
- Nursery teachers
- Direct sellers
- Doctors
- Babysitters
Who can claim toys as a tax deduction?
To deduct any expense, it must be directly related to your business. If you’re a part of the childcare industry, you can legitimately write off toys and game purchases as business expenses.
Freelancers who can claim toys as a tax deduction include:
Daycare owners:
As a daycare owner, you can deduct the cost of toys and games you provide to the children under your care.
Content creators:
If you are a self-employed content creator, and you create content for children, all the equipment used in the video is deductible. You can claim these expenses as supplies.
Direct sellers:
If you are a direct seller, and run a small business selling children’s toys, you can deduct the cost of those toys from your taxes.
Babysitters:
As a professional babysitter, you may have to buy a crib, high chair, toys, and more for your job. You can deduct the cost of these items from your taxes.
Frequently asked questions
FAQs
Can a doctor or pediatrician deduct the cost of toys for children?
Can I donate the toys and claim a deduction after I’m done reviewing them for my youtube channel?
Can a nursery teacher deduct the cost of toys?
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