With the implementation of gun safety and gun storage laws, some questions need to be answered. Do I really I need to do this? What are the consequences if I choose not to? Can I write this off on my taxes? All good questions that need to be explored.
Can a gun safe be a tax write off? A gun safe can be a tax write-off in certain states. This will also be limited to certain careers. All in all, you might be able to write off your gun safe purchase if you meet all of the required conditions.
There are a lot of technicalities that come with writing off a gun safe, although it is possible. To learn more about the specifications and why you need a gun safe tax write-off or no keep reading.
Can a Gun Safe Be a Tax Write Off
Depending on where you live and what you do for a living owning a gun safe can be a tax write off. However, this is limited to certain areas and specific careers.
States with Sales Tax-Cut:
- Connecticut
- Massachusetts
- Michigan
- New Jersey
- Washington
For a tax-cut based on the state, if you live in Connecticut, Massachusetts, Michigan, New Jersey, or Washington, you will receive a state sales tax-cut. In these areas, it is also possible to receive tax rebates.
This state’s sales tax-cut is a total exemption, meaning you just pay for the value of the safe, no additional fees. The tax rebates will give you a certain percentage of your purchase back if you are over 21 and have purchased a gun safe.
Additionally, if you are located in any of these states and wish to purchase a gun safe, the state has allocated funds of $1,200 for each individual seeking to buy a gun safe. Making this the best time to find a gun safe if you are from these places.
For federal income taxes, if your work requires you carry a firearm, it is considered an “essential” item as is your gun safe.
These tax cuts were implemented as a way to help gun owners follow the legislation requiring every gun owner to have a gun safe to keep it out of the reach of children.
How To Deduct a Gun Safe From Taxes
There are some requirements needed for both the rebates and filing your gun safe under your federal income tax, if applicable.
Requirements for Filing as Deductible:
- Kept Receipts
- Stores Bussiness Related Materials Only
- Form 8829
The rebates vary from area to area, but they all share some commonalities. The gun safe needs to contain a firearm and show evidence of being securely stored. The safe has to be certified by whichever security consultant the area is requiring.
The safe has to be a particular construction, i.e., wall thickness and the number of bolts used to lock the door in place.
The gun safes needing to be used to contain only guns makes sense. If it weren’t limited to just those needing to store guns, then anyone would purchase the gun safe as a means of acquiring a family safe at a rebate.
However, since these states are allotting funds for the express purpose of ensuring the legislature is being followed, they require proof of gun ownership.
While most safe manufacturers are reasonably reputable, the less expensive safes do not always make the grade as it were. Inferior materials and design, make more inexpensive safes not qualified to receive certification from security firms that set the standard for safes.
This is why the rebate is in place to encourage purchasers to buy quality safes.
By requiring the purchased gun safes to meet precise specifications, these states are setting a norm for what qualifies as an effective safe to meet the requirement of the legislation.
If the purchaser can show that the requirements for the safe have been met, then they will be eligible for a rebate. Remember to research the requirements for your state thoroughly, they vary from state to state.
As mentioned before if you are in a career that requires you to carry a firearm and you purchase a gun safe to store said firearm, this can be a federal tax-deductible expense. This is a one-time deductible. There are some requirements, though.
First, you need to be sure to save your receipts. You need your receipt of purchase and installation. When filing your W-2, you will need to present this as proof. Make sure to hold onto it afterward in case of future audits.
You can only use the safe for business-related purposes. This means any additional material in the safe that isn’t your gun must be related to the business alone. If you store any personal documents in this safe, you are not eligible for a deduction.
Once you have made the purchase, it has been installed, and you’ve stored only your business-related items in it you need to go file. To do this, you will use a Form 8829 and make sure to list all of your deductions.
Once you’ve done this, you have successfully filed your new gun-safe as a tax deduction on your federal income taxes. If you are also in law enforcement, you may be eligible to write off your firearm as a tax deduction
The laws are in a state of flux right now when it comes to guns, gun safes, and taxes. When you are in the process of purchasing either a gun or a gun safe, please research your state’s laws and ordinances. They may have other ways to ease the cost of buying a gun safe that I have not mentioned.
Are Gun Safes Worth The Investment
You now have all this information presented before you. You know the different types of taxes, cuts, and rebates available to a gun safe purchaser, but the question remains, is getting a gun safe really worth that large of an investment?
Reasons for Purchasing a Gun Safe
- Saves money
- Responsible gun ownership
- Follows the law
I say yes, not only is the purchase of a gun safe a worthy investment, it is an absolutely crucial one for any gun owner. My reasoning is three-fold: financial, ethical, and legal.
Beginning with the financial reason, let’s consider how much a shotgun and a pistol cost. A bolt action single-shot shotgun can range in price from $200 to $800 depending on quality and brand.
A semi-automatic pistol can cost from $300 to $900. The prices change depending on brand and the dealer you’re purchasing the gun from.
Let’s say you own one shotgun and one pistol, each cost you about $450 each. That’s just the retail price of the guns, that doesn’t include the extra fees associated with licensing and background checks. Altogether you’ve already made a more than $1250 investment, now where are you going to put them?
You want them to be safe and not get dirty. You also want your guns to be in a dry environment since dust and rust are death to most guns. A well-made gun safe will protect your gun safe from most forms of damage and corrosion.
Now let’s look at the ethical reason. As stated before you don’t want your firearms to corrode. There are ways to clean a gun after it has developed rust, but sometimes the corrosion can be severe and dramatically alter the structural integrity of the gun.
As a gun owner, you are responsible for your safety, but also the safety of those around you. Storing your guns in a climate controlled gun safe ensure that you are doing your due diligence to make sure that no unintended harms come to anyone using the gun or near it.
Finally, there is the legal reason. As mentioned at the beginning of this article, legislation has been passed to safeguard children against accidental gun injuries and deaths, Child Access Prevention Law.
This legislation requires the proper storage of firearms in gun safes protecting your children and any other children that may be in your home.
With the enactment of this law, you are now expected to own a gun safe. In the majority of the United States of America now if you don’t lock up your gun in a gun safe or some equivalent you will be held criminally negligible.
With all of these reasons, it is reckless not to own a gun safe. Yes, it may cost you some in the short-term, but in the long run, it will be an investment well worth your time, money, and energy.