Just found this sub, so if this is the wrong place for this question please let me know.
For the last few years I've made and sold ceramics as a small side business. This year I will have made large enough sales to large enough companies that I will have to claim the side income on my taxes as I know the other parties will claim their purchases from me ($650-1500 for most of them).
I know I can claim my studio rent, materials costs, business lunches etc, but what if I want to make larger purchases like a truck and/or laptop? Truck would be used to deliver work around town and for personal transportation to and from the studio, as well as non-work related transport. A laptop would be used for creating/maintaining a website, updating /selling via Etsy, etc.
I would expect the truck/laptop to cost in the $7-9,000 dollar range, and my yearly income from ceramics to be in the $2200-3500 range, if that helps. I also have a roughly $40,000 income from my regular day job. Can I claim them as business expenses? And if so, can I claim them at 100% or just parts of them? Would the truck need some type of labeling? What other types of expenses should I be tracking to write off, and is there a limit?
Thanks so much!