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Old 01-21-2015, 08:59 PM   #1
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Deductions for part-time business?

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Does a small business qualify for the equipment purchase deduction, and other deductions, if the business income is the owner's secondary means of income. That is, if I have a photography business that is secondary income to a full-time employment with another company, does my small business quailify for standard small business deductions, such as equipment purchases under section 179.
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Old 01-26-2015, 04:56 PM   #2
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If you are operating your business with an intent to make a profit, then yes. Your income and expenses would be reported on schedule C. Here is a link to an IRS article. You might want to speak with a tax pro to help you with preparing your tax return.

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