I purchases a security system and the costs for everything (including installation) was $8K can I depreciate all of it? Is so, what is the best way for me to handle this?
Optional Information: State/Country relating to question: Wisconsin
A security system can be depreciated over 7 years (MACRS).
Assuming you purchased this i.tem NEW, you may choose the Bonus Depreciation method.
50 percent bonus depreciation for qualifying assets placed in service between January 1, 2012 and December 31, 2012
If you just started business and don't have a profit, you likely will not qualify for expensing of assets (Section 179).
Sorry...that small print says there is a 50% Bonus Depreciation available in 2012.
Experience: Over 20 Years experience in resolving tough tax cases
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