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I have 10 ATM and 20 Credit card machines for profit

operation and will use Section...
I have 10 ATM and 20 Credit card machines for profit operation and will use Section 179 treatment for whole ATM and credit card machines purchased in 2016 for 2016 corp tax return.1) ATM would qualify for Section 179 treatment ? and Can we deduct the whole expense or allows up to a $19,500 write-off ?
( I found some article regrading 19,500 write-off limitation for ATM machine: http://www.nationalcash.com/atm-solutions/atm-merchant-service/)
2) Credit card machine qualify for Section 179 treatment ? and Can we deduct the whole expense or allows up to a $19,500 write-off ?
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Answered in 7 minutes by:
7/4/2017
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,087
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Hi from just answer. I'm PDtax. I can assist.
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Are the atms stand alone or part of a building? Do you own the buildings they are in?
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Do you rent them to third parties for your income?
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Customer reply replied 1 year ago
We do not own the building and have two types of profit operation.
Type1: We just use some spaces of third parties (stores) for our ATM service and pay some money for using the space to them. ( I own ATM machine and maintain ATM)Type2: We rent ATM machines to third parties for free and receive some ATM surcharges from third parties on a monthly basis (I own ATM machine and third parties maintain ATM
thank you !
You are eligible for 179 expense treatment for all the machines. The total is 500,000 maximum available, not 19,500.Thanks for asking at just answer. Please rate to complete your request. I'm PDtax.
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,087
Experience: 35 years tax experience, including four years at a Big 4 firm.
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