4 months ago
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Posted On: June 24th 2026, 03:09 pm
Can you deduct a rolex on your taxes?
Yes, but with a lot of caveats.
In this video, the host is correct that someone who is renting rolexes to customers can depreciate the watches on their return because they are in the business of renting watches.
But what the video leaves out is that if you are renting watches but also wearing the watches personally, then the rolex becomes personal and losses a lot of its deductibility.
And you don't have to believe me. Tax court has ruled on this.
In 1980 Sandra Pevsnar was required to buy YSL clothing for her job as a YSL manager. Sandra bought the clothes for work and only wore them at her job. But since the clothing was suitable for personal use, the clothes were non deductible.
It would be the same for rolexes. You have to be in the business of buying or renting rolexes. If you are buying a rolex and wearing it to attract cusomters, then it's personal and not deductible.
For more practical advice, make sure to follow.
Yes, but with a lot of caveats.
In this video, the host is correct that someone who is renting rolexes to customers can depreciate the watches on their return because they are in the business of renting watches.
But what the video leaves out is that if you are renting watches but also wearing the watches personally, then the rolex becomes personal and losses a lot of its deductibility.
And you don't have to believe me. Tax court has ruled on this.
In 1980 Sandra Pevsnar was required to buy YSL clothing for her job as a YSL manager. Sandra bought the clothes for work and only wore them at her job. But since the clothing was suitable for personal use, the clothes were non deductible.
It would be the same for rolexes. You have to be in the business of buying or renting rolexes. If you are buying a rolex and wearing it to attract cusomters, then it's personal and not deductible.
For more practical advice, make sure to follow.
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