Is a luxury watch a tax write off? In other words, can you deduct a luxury watch purchase as a business expense? Grey market watch dealer Roman Sharf of Luxury Bazaar made a video answering the question, but is he right or wrong?
It seems somewhat reasonable. You hear about company’s gifting watches to key employees after hitting employment milestones. How does this work with regards to taxes and what can you actually do without getting into any trouble with the IRS.
Roman Sharf says in his video, that a lot of corporations buy watches from them and write them off as corporate gifts. And ultimately Roman agrees that this is an acceptable business expense or tax write off. This video is my response.
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