Business Write-offs

Discussion in 'General Business' started by zac439, May 30, 2007.

  1. ruby

    ruby Well-Known Member

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    #21
    You'll actually find an item like a laptop is considered an Asset not an Expense and therefore must be written off via depreciation over a number of years. In Australia that is usually 3 years for something like a laptop.

    Not sure of the laws where you are.
     
    ruby, Jun 1, 2007 IP
  2. zac439

    zac439 Notable Member

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    #22
    Interesting. I'll check my options. How much can depreciation get someone? What if the item breaks before that amount of time?
     
    zac439, Jun 1, 2007 IP
  3. Colbyt

    Colbyt Notable Member

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    #23
    In the US certain business assets that would normally be depreciated can be "179 expensed" in the year of purchase. I think it is like a 10K limit. I never do it so I am not really current on the amounts and types of property that qualify.
     
    Colbyt, Jun 1, 2007 IP