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Our company leases out equipment to customers (pumps,
Our company leases out equipment to customers (pumps, blowers, hoses, etc) on a weekly and monthly basis. The useful life on these items is between 5 - 10 years. They would qualify for Sec 179 if they… read more
Lane
Lane
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I am using TaxAct. I'm wondering if I can place many of my
I am using TaxAct. I'm wondering if I can place many of my deductions under the category of "Business Services." These would include the printer who prints my t-shirts, the printer who prints my greet… read more
emc011075
emc011075
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I purchased and renovated a commercial building in 2018
I purchased and renovated a commercial building in 2018 (purchase price $600k, renovations after purchase $350k). How do I know which is best to use when filing, 179 for renovations, cost segregation … read more
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I'm trying to get clarification on tax laws regarding
I'm trying to get clarification on tax laws regarding purchasing equipment and what i can expense and/or depreciate … read more
Lane
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I'm trying to diminish the tax consequences on an earlier
I'm trying to diminish the tax consequences on an earlier 2018 windfall of $42,000. I have opened up a law office in August Can I straight-line 179 deduct things like computers, furniture and other of… read more
DK_CPA
DK_CPA
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Lane, I have an S-Corp in Texas, I work from a home office.
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Chad EA, CDFA®, CFP®
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I started a small technological consultancy this year. Let's
Hello, I started a small technological consultancy this year. Let's say I bill 70,000 $ for 2015. I need to spend about 10,000 $ on assets (Crazy big computer ... etc.). Can I depreciate all of this y… read more
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How do I answer question #13 on Schedule C, Part II of the
How do I answer question #13 on Schedule C, Part II of the 2011 1040 form. I have read the instructions but cannot find how to answer this question. Any help will be appreciated.… read more
Lane
Lane
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Robin: This time my topic is regarding claiming bonus
Hi Robin: This time my topic is regarding claiming bonus depreciation (accelerated depreciation). I understand we can claim bonus depreciation in 2013 and 2014 tax years. 1. I understand if we categor… read more
Robin D.
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Vocational, Technical or Trade School
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I started a small business this year. Its a service which involves
I started a small business this year. Its a service which involves creating photorealistic renderings for my clients who want to visualize an interior design idea before going forward with any plans. … read more
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A small company plans to purchase some equipment and SUV in
A small company plans to purchase some equipment and SUV in December 2014 for claiming 179 section. How can we define "small company" eligible for 179 section? and would you give me the specific limit… read more
Barbara
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i never did depreciation deduction so far a computer $1000
i never did depreciation deduction so far a computer $1000 in 2010 comp software $200 in 2010 Comp software $150 2010 Comp monitor in 2010 worth $150 2011 a car and paying monthly $450 office chair in… read more
taxmanrog
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Im starting a car rental business. I want to buy 2 cars to
I'm starting a car rental business. I want to buy 2 cars to start with, and buy them 100% in cash out right. Can I utilize section 179 to deduct the full purchase price of both cars, since they are ca… read more
CFEPro789
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Can I simply expense the medical software I purchased on my
Can I simply expense the medical software I purchased on my s-corp return it was about $4K. the software is an image reading software used in conjunction with the X-Ray equipment I purchased (both at … read more
R. Klein, EA
R. Klein, EA
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How do I write off the purchase of a website I purchased
How do I write off the purchase of a website? I purchased the website for $24,000. The website I purchased has generated over $75,000 in advertising revenue in 2008. However, the website is currently … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I want to buy a new computer and new software for my freelance
I want to buy a new computer and new software for my freelance business. I will have earned more than the value of those items by end of year. I have only been in business for one month. Can I write t… read more
jgordosea
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on may 18 2005, i purchases a computer system for 2470
on may 18 2005, i purchases a computer system for 2470 i also bought a printer for 440 and a fax machine for 390 and all the equipment is used for my business also on june 12 2005 i sold my old comput… read more
Wayne Brasch
Wayne Brasch
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what can i legally claim for from my employer when working from home
My employer has been making a weekly contribution to electricity and gas (£7/wk) and pays my internet connection charge. They are now quibbling about my expenses for pens and paper, and have requested… read more
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