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If I buy a handgun to be used for personal protection while showing houses. Is that considered a business expenses? I purchased the handgun today.
AI accountant’s answer:
You can deduct the handgun purchase if it is an ordinary and necessary expense for your industry. Arguably, this is a bit of a grey area and I understand why you bought a handgun to show houses to buyers. But I don't think this expense qualifies as a business expense.
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Answer
You can deduct the handgun purchase if it is an ordinary and necessary expense for your industry. Arguably, this is a bit of a grey area and I understand why you bought a handgun to show houses to buyers. But I don't think this expense qualifies as a business expense.
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Melissa Pedigo, CPA
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