techy lname wrote:
- quote -

see:
http://www.pmstax.com/ftp/irb/rp6921.pdf

Think of it this way: If you deducted the value of your
labor, you would have to include that as income. In the
end, the result is the same.

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"Robert Rathbone" <rrathbon[nospam][at]bellsouth.net> wrote:

- quote -

I'm not a tax expert, but a programmer who has similar
aspirations, so please take this w/ large grain of salt. I
don't think you can deduct the value of your time (in theory
this is a part of your "investment" in the buisness, rather
than an expense).

see:

http://www.pmstax.com/ftp/irb/rp6921.pdf


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"Robert Rathbone" <rrathbon[nospam][at]bellsouth.net> wrote:

- quote -

Not according to the IRS.

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I'm a software developer working for a company, but I do
programming projects on the side from time to time and file
it as self-employment income. In the years I haven't done
any work I still file the expenses I've had for keeping
myself current in the latest programming techniques (such as
books and magazines) and file it as a business loss.

This past year (2003) I've started working on a software
project that I think I can sell, but it won't be ready to
sell until sometime in 2004. Can I consider the time I've
spent working on this program as a business expense as well,
perhaps by "paying" myself a salary? I spent no money on
this project specifically, but my labor has to be worth
something...

Thanks for your thoughts,
Robert Rathbone

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