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Audiophile TT article in Forbes

I am going to try one more time with this tread because I believe the Audiogon Moderator is flagging this because of the naming of a name. In the latest Forbes special issue there is a nice article about the resurrection of vinyl and Audiophile grade TT. The article shows some nice pictures of high end grade TT with there tone arms and statements from VPI owner claiming every time he wakes up he pinches himself to think in a digital age sales are up steadily. But the big eye opener was that very well known vinyl and turntable guru from a major audio magazine is purchasing a one hundred grand table and tone arm combo Continuum Audio Labs Caliburn turntable & Cobra tonearm
for much less than retail what is much less the article never states but I would guess to venture half off listed which if my math is good would be fifty grand total. Now I don't really have a problem with this but in the article the writer states he the well known guru reviewer is also going to write off the purchase as a business deduction? I am not a CPA or a tax attorney but I would guess that this would raise a red flag at the local/federal tax office as being a LUXURY item. Can you honestly think that standing in tax court a judge wouldn't ask you do they really make a 100 grand turntable and why do you need this piece of gear just to listen and review a record or even having to compare it to the competition.
schipo
osgorth
109 posts
 
If you were testing sports cars for a living, yeah, I would agree with you Schipo..

Face it, this guy is writing in one of the top audio magazines, and testing vinyl stuff is what he does. Obviously he needs a reference system, and this is what he chose. You can argue with his choice of course, but that's really none of our business. :)

As S7horton says too, what's he supposed to compare the stuff he reviews to? I fully support his purchase, and I totally agree it's a business purchase. Face it, you're just jealous. ;)
qdrone
1,039 posts
 
If his job is to review and evaluate Vinyl recordings by all means he can write it off. Just as an actor can write off cable or sattelite T.V. because he could be evaluating performances or doing research on a character he will be portraying by watching the History channel. If it has to do with your job you can write it off if it is your sole source of income. If you compared the Ferrari to every car you drove for articles in Road and Track you might get away with it. This reviewer will be using this turntable for ALL reviews for his job. Wouldn't you love it though if this TT he is buying sounds terrible. LOL.
schipo OP
1,268 posts
 
Sounds rather innocent when compared to what Haliburton has done to the taxpayers and our soldiers in Irag.Please no politics thats not what this tread is about. lets look at it this way, why not say in another year he wants to purchase a Goldmund reference II turntable which goes for $300.000 why not continue to write that one off because in your own words HE NEEDS THE BEST.Thats nonsence and any one would know that,a luxury item like this would be a red flag.What about speakers,amps,and so on, you need that to hear the music that a $300,000 tt produces why not write them off with so on and so on. Can you write off the cables to and the furniture that the gear sits on hey why not I am a reviewer I need my gear to sound it best.
Ag insider logo xs@2x
uru975
684 posts
 
Anyway anyone can limit what the government takes from them is fine with me. If there was a way for me to deduct this hobby as a mental health deduction, it would happen in a hot second. Just be happy someone can get something they want and make it work taxwise as well
narrod
1,064 posts
 
Reminds me of that old joke about picking an accountant by asking only one question -

Question: How much is two and two?

Answer: How much do you want it to be?

You've found your new accountant.
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