You can write off virtually anything, if you have a corporation established (such as an LLC or LLP) or file as self-employed. However, you must always keep the receipts and can make a convincing argument as to why said item(s) are considered a business expense, in case you get audited. One of the things that Leona Helmsley got busted on during her tax fraud case was she couldn't justify buying several cases of make-up and lingerie as a "business expense".
You might want to peruse this web site for many of your questions. There's a lot of free material in there which is quite good. I'd be very careful writing off anything trade related unless you can prove to the IRS that a significant amount of your time and income is derived from trading activity. "Hobby" trading doesn't cut it with the IRS -- http://www.greencompany.com/Educatio...Currency.shtml
Computer? Internet connection? Rent? "Compani's" car? Business visits to Hawaii and Tahiti?
Ignored
Blue is right - you CAN write off virtually anything but you MAY not be able to get away with it. Whenever you're purchasing something that you're planning on writing off, just imagine sitting across the desk from an IRS auditor (or other applicable tax agent if outside of the US) and having to justify the business expense - it can be very intimidating. Use your conscience as a general guide for starters.
The best thing you can have in life is the ability to plan a few moves ahead. I'm convinced that the next best thing you can have is a damn good attorney. I think the www.greencompany.com website is great resource, but in business it's always a good plan to seek competent legal counsel.
-=DAVE=-
P.S. What's the third best thing you can have in life? A damn good accountant.
