If one was to start a business in the instruction of weapons marksmanship would the weapons, ammo, accessories and all related equipment & storage mediums associated in that pupose be tax deductable, what about NFA items, home security installation ect?

What if you already own the items and you give your personal equipment & firearms to the company as the sole propritor would that be good in the eyes of the IRS?

Thanks to all that help.

in a nutshell, yes.

you should consult a tax accountant for the details, as it must all be done in the correct way.

Hay Sgt., and I agree, my answer would be a qualified yes. I don't know about the installation of the home security system. I'm assuming you plan to run your business out of the home. So, perhaps you can, that's a CPA question. You can sell, rent, or lease you equipment to the business. Don't "give" the equipment to the company.

Incorporate the business. Perhaps even a single member LLC, or a probably a sub chapter S corp. the corp will save you a $200 annual report fee each year with the secretary of state that goes with the LLC. Get a federal tax Id # from the IRS and a post office box for the business. Tax iD number you can get yourself at www.irs.gov. Either corporate entity will help with liability issues. Business liability insurance and a good waiver of liability form would be essential in that business. If your bookkeeper is any good, you will loose money every year!!

With all of the above, you should be able to purchase class III weapons without a signature from the local chief LEO. Just purchase them in the name of the business (corporation). If I can help any more, just let me know.

David

I hated tax law in law school, so I defer to the CPAs and tax specialists.

However, sign me up as your first customer!!!! If you can teach an old dog like me to shoot well, you are truly a gifted instructor. Plus, you are in my area! +1


WJ

+1 on that. Just behind family law and property.