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Louis Vuitton bag

$1,500-$8,000

Is a Louis Vuitton Bag Tax Deductible?

Short answer: No: Louis Vuitton bag is a personal luxury purchase and not a business expense.

Even branded or 'image' purchases for business owners fail the IRS ordinary-and-necessary test. Jewelry sold as business inventory is the exception.

Records to keep: Keep the receipt or invoice and an estimate of business-use percentage.