Tax Law (Questions About Taxes)/Schedule C

Advertisement


Question
Can a sole proprietor (Schedule C)rent tools and equipment from the owner?

Answer
Ms. Kreisel:

If I understand the question.  Can a sole proprietor rent tools from himself?  The answer is no.  The sole proprietor can depreciate the tools he place into service to perform his work but he/she can not rent it from him/her self.

John

Tax Law (Questions About Taxes)

All Answers


Answers by Expert:


Ask Experts

Volunteer


John L. Tidwell

Expertise

Unemployment tax law both state and federal; determination of employer employee relationship; the usual 20 commonlaw factors for making that determination; and what makes me a liable employer.

Experience

Over 20 years of field audit experience with a state agency

Organizations
none

Publications
none

Education/Credentials
Degree in Accounting from Falls Business College

©2016 About.com. All rights reserved.