Tax question ? - GoFuckYourself.com

Psycho_x · 12-29-2006, 06:53 PM

I run another business that requires the use of some light machinery,trucks and a few other things. Due to the nature of the business I can not write off mandatory items that are required to operate the business such as light machines, tools etc. Due to the fact that I have to own these things for the business and cant just list those things as a annual business expense.
Now to my question. Since a computer is a necessity for online business does the same rule apply. I have ask a few people and have been given mixed responses. And what are the write offs that are allowed?

polish_aristocrat · 12-29-2006, 06:54 PM

hit up bdjuf, the GFY tax expert....

spasmo · 12-29-2006, 06:56 PM

I write off some of my PCs (depreciated over 2-3 years), but not all of them.

Ask your CPA. It's your rear end on the line.

collegeboobies · 12-29-2006, 07:00 PM

Yes, if you use a laptop for business travel, or buy a desktop to work from home, it should be, ask your accountant. They arent going to get on your PC and see what you are using it for...

L-Pink · 12-29-2006, 07:03 PM

Basically computer equipment is under the same depreciation schedule as tools and trucks. I'm still depreciating shit that was thrown or given away.

selena · 12-29-2006, 07:04 PM

I'm confused over why you can't write off (or at least amortize) items necessary to run your business.

I'm not an accountant, but I've never heard of anything like that before.

Edit: Never mind, I understand your question now.

12-29-2006, 06:53 PM	#1
Psycho_x Confirmed User Join Date: Oct 2006 Posts: 697	Tax question ? I run another business that requires the use of some light machinery,trucks and a few other things. Due to the nature of the business I can not write off mandatory items that are required to operate the business such as light machines, tools etc. Due to the fact that I have to own these things for the business and cant just list those things as a annual business expense. Now to my question. Since a computer is a necessity for online business does the same rule apply. I have ask a few people and have been given mixed responses. And what are the write offs that are allowed? __________________

12-29-2006, 06:54 PM	#2
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	hit up bdjuf, the GFY tax expert.... __________________ I don't use ICQ anymore.

12-29-2006, 06:56 PM	#3
spasmo Confirmed User Join Date: Dec 2005 Location: Couch Posts: 2,678	I write off some of my PCs (depreciated over 2-3 years), but not all of them. Ask your CPA. It's your rear end on the line. __________________ Surfers: Go here for hot babes.

12-29-2006, 07:04 PM	#6
selena Confirmed User Join Date: Aug 2004 Location: On The Edge Posts: 7,994	I'm confused over why you can't write off (or at least amortize) items necessary to run your business. I'm not an accountant, but I've never heard of anything like that before. Edit: Never mind, I understand your question now. __________________ ~ Doer of Things at MetArtMoney Where Flawless Beauty Meets Art ~The MetArt Network ~ selena.delgado9 Last edited by selena; 12-29-2006 at 07:05 PM..

12-29-2006, 07:00 PM	#4
collegeboobies So Fucking Banned Join Date: Jul 2004 Posts: 3,644	Yes, if you use a laptop for business travel, or buy a desktop to work from home, it should be, ask your accountant. They arent going to get on your PC and see what you are using it for...

12-29-2006, 07:03 PM	#5
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,151	Basically computer equipment is under the same depreciation schedule as tools and trucks. I'm still depreciating shit that was thrown or given away.