How to write off your cell phone bill

The release of the iPhone 5 swept the nation, and tech consumers had yet another reason to drool. But at what cost?

Mobile Phones, Internet and Other Easy Tax Deductions - TurboTax Tax Tips & Videos

Spending all of this hard earned dough to remain king of the electronics mountaintop begs the question — Can I deduct my iPhone 5? Can I write off my new computer or my monthly cell phone service costs? What about my printer, ink cartridges, or any of my electronics. The short answer is a resounding: But, as with everything tax related, you have to pay attention to the rules. So how do you deduct these expenses? Well, you have to meet the basic criteria that the IRS puts forth when dealing with such issues:.

TurboTax will help you figure whether you can itemize your deductions or take the standard tax deduction.

Can Cellphones Be Tax Deductible? | eHow

If your new cell phone acts as both your business and personal phone, you are only allowed to deduct the portion used for business from your taxable income. As it turns out, you are able to deduct much more than your cell phone costs. Or as the IRS puts it, you are able to deduct depreciating expenses if those expenses help you to generate income.

Expenses that fit into this category range from new computers, printers, leased equipment, software, monitors, computer peripherals, and so on. Basically, anything that you deem necessary for your business or necessary for you to continue earning income can be deducted.

You can also connect with PT on Twitter just follow him ptmoney. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account.

Notify me of new comments via email. Notify me of new posts via email. The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers.

This blog does not provide legal, financial, accounting or tax advice.

The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog.

After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. Toggle navigation Search the Blog Latest tax and finance news and tips. Recent Posts Happy Summer Solstice! Savings Tax Calculators Health Care. Start Tax Planning Early: Tax News TurboTax News Social. Popular Posts Now Accepted: Search the Blog Latest tax and finance news and tips.

Well, you have to meet the basic criteria that the IRS puts forth when dealing with such issues: Deducting Other Business Assets As it turns out, you are able to deduct much more than your cell phone costs. Just remember to save your receipts and keep good records. Get your maximum tax refund with TurboTax today Start for free. Philip Taylor 95 Posts Philip Taylor, a. Comments 5 Leave your comment sreddy says: March 19, at 4: March 6, at April 9, at June 9, at January 15, at 2: Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.

Blog Post Archive Blog Site Map Press Center Disclaimer The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Social Social TurboTax customer reviews TurboTax blog TurboTax social hub TurboTax invite-a-friend discount TurboTax tax parties TurboTax big game commercial.

More Products from Intuit More Products from Intuit TurboTax Canada Mint personal finance Accounting software Payroll services Quickbooks Payments Professional tax software Professional accounting software More from Intuit.

Site Map Affiliates and Partners Software and License Agreements Privacy Statements Security Security Certification of the TurboTax Online application has been performed by C-Level Security. Trademark Notices About Intuit Search Intuit Jobs Press By accessing and using this page you agree to the Terms and Conditions. Certified by nResult Security Certification of the TurboTax Online application has been performed by C-Level Security Reviewed by TRUSTe, Site Privacy Statement Authorized e-file Provider.