Most business owners will write-off laptops and desk chairs every year. But they’re not even aware that they can also write off their luxury watch

The IRS has given us the playbook. You just need to run the play. Here’s how:

First rule - you can’t buy the watch with the intention of reselling it. 

Second - you must use the watch for marketing purposes in your business. 

Third - the watch must be on display at your business or used on social media related to your business. 

So, let’s say for example, you’re a car dealer. Snap a photo of the watch on your wrist with your inventory in the background. Post it on your business social media. Done. The watch is a write-off. 

Get creative and you can do this with any business. 

Here’s one catch. You can’t depreciate the entire cost in one year. You have to depreciate it over 5 years. 

Don’t own a business? Create an LLC and move your side hustle into it. Snap some photos of your new watch with your business and you’ve got a perfectly legal tax write-off. 

This isn’t hard. It’s just that most business owners have never been shown how to do this. 

Be sure to run the idea by your accountant who will be handling your return. They should understand what you’re doing and how to handle it. If not, get a new accountant ;)

This is why I prefer alternative assets over traditional investments. You can actually enjoy them, not lose money AND use them to keep more of your income.