Post by shawnturner on Jan 5, 2018 12:04:06 GMT
Hi,
Can I set up a business where I am an online twitch streamer / YouTuber in order to claim items such as my broadband, computer upgrades, and utilities as a tax deductable business expense against the loses the business will make? Idea would be to pay myself minimum wage from the business and stream a couple of hours every night of me playing minesweeper etc. No one will watch and thus no income but the premise will be I am growing my audience etc. initially. I will put some capital in to the business to continue paying my wage and can then claim utility bills, computer upgrades, clothes, food as a business expense. All things I am paying for currently but paying full tax on. As business will be making a loss I can hopefully offset some more tax as well. Maybe I can even claim a pet etc. as a mascot for my stream and therefore also a business expense?
I didn't find the right solution from the internet.
References: forums.overclockers.co.uk/threads/can-i-become-twitch-streamer-to-pay-for-things-as-a-business-expense.18806513/
B2B Digital Advertising
Can I set up a business where I am an online twitch streamer / YouTuber in order to claim items such as my broadband, computer upgrades, and utilities as a tax deductable business expense against the loses the business will make? Idea would be to pay myself minimum wage from the business and stream a couple of hours every night of me playing minesweeper etc. No one will watch and thus no income but the premise will be I am growing my audience etc. initially. I will put some capital in to the business to continue paying my wage and can then claim utility bills, computer upgrades, clothes, food as a business expense. All things I am paying for currently but paying full tax on. As business will be making a loss I can hopefully offset some more tax as well. Maybe I can even claim a pet etc. as a mascot for my stream and therefore also a business expense?
I didn't find the right solution from the internet.
References: forums.overclockers.co.uk/threads/can-i-become-twitch-streamer-to-pay-for-things-as-a-business-expense.18806513/
B2B Digital Advertising
