While visiting a coin shop today, I got a $55 parking ticket, do I factor that in to my cost basis o

SethChandler

MadMarty

Bad Bay!!!

Shamika

RYK

I dunno, but show us what you bought.

MadMarty

Hey Seth, your lucky, in chicago parking tickets start at $75 and go up from there! Park in from of a hydrent and it will cost you $250, a handicap spot is $500. If you don't pay them you get the boot and your license suspended.

UncleJoe

Yes.

But it is a cost of business and gets spread out over your entire inventory not just what you bought that day.

Joe.

mercurynut

topstuf

Absolutely! Also the cost of the time that you could have used mowing lawns or sumpin.

Do NOT forget the cost of the wear on your shoes and the gas to get to the place you parked.

Since breath is limited to only so many before you die, I always count my breaths and add it to the cost code on the back of the coin.

And do not forget the cost of whatever YOU may have to purchase to store the coin in. If you leave it in the dealer's 2x2, there is no cost except for the ink you use to put your cost on the 2x2 and draw a circle around it.

After that, you are free to enjoy your coin with no further costs. As long as you do not turn on any lights to do so.

MatthewBabcock

ibzman350

mgoodm3

The more expensive the coins, the cost of the ticket will be a small percentage of your total outlay. The more you buy, the less the parking ticket matters.

Lakesammman

$55

What did you do - flip her off??

jdimmick

The dealer should pay it for not offering enough convienient places to park.

just kiddin

LALASD4

I think you can deduct that on your CA tax return but not on your Schedule C on your Federal tax return.

AmericanSilverEagleCoins

If your business is coins and the ticket was received during a trip to the coin store you can charge it as an expense (like mileage or office supplies) but it should not affect cost of goods.

oreville

<<<<<<If your business is coins and the ticket was received during a trip to the coin store you can charge it as an expense (like mileage or office supplies)>>>>>>>>>>>>

NOT!

It is against public policy to expense parking tickets, fines instituted by Feds, State of local governments.

Yet it is completely allowable to deduct the cost of bribes on a tax return even after the government does the calculating of the amount of the bribes that the individual supposedly gave out in a criminal trial!!!!

Dog97

If you are a sleazebay dealer SethChandler you simply figure it into your shipping costs.

keets

have you ever gotten a parking ticket while you were in court?? fortunately it only cost $10 about 12 years ago.

al h.

LanLord

$55? Where the hell did you park, on top of the cop?

ksteelheader

I got one the first Saturday of January while in a coin shop. Cost a whopping $3.....

Dog97

I had to go to city hall yesterday & pay a speeding ticket for $160. Been trying to figure out how to charge it to somebody else, I mean like anybody, but haven't come up with any ideas yet.

presleyh

gotta agree fines and penalties are not dedutible. If you want to add $55 to the coin when you sell it to cover the ticket, then I hope you got a really good deal on the coin. and whatever you did to get the ticket---- don't do it again.