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Laptop, home business, tax write off?

Question: Laptop, home business, tax write off?

(Posted by: on 2009-11-17 09:24:17)

I have started my own business. It is an online shop and while my home computer has internet, it does not have the specs i need to hold my files, contacts, or create my own graphic designs and website. I need to get a laptop strictly for those purposes, would I be able to write it off as an expense? 100 % of it will be used for my site, any other sites I create, advertisements and so on… Please let me know what options I have for this and any resources i can use for help.


Posted by: Ryan M on 2009-11-17, 09:29:09

You cannot expense it all in one year. You must depreciate it over its useful life utilizing MACRS.


Posted by: G off on 2009-11-17, 09:29:17

Yes- if the laptop is purchased for and used primarily for the business, it would be a tax writeoff. I am in a similar situation and yes- it is a tax writeoff.


Posted by: rms on 2009-11-17, 09:32:06

If it’s used for your business it definitely falls under the category of write off.


Posted by: tro on 2009-11-17, 09:37:30

On the form 4592, that will be called ‘listed’ equipment(on the reverse side) follow the instructions there


Posted by: rayt721 on 2009-11-17, 09:42:38

Only if you have a legitimate business which includes a tax ID and business license. Just to say you have a business because you have a business card won’t work. It is not something you can take 100% of the cost from off one year but rather depreciated over several years of usage. An accountant/ CPA (also a tax write off) can assist you with several other tax write offs you are entitled to. For at least your first year of business make sure to get a competant attorney and CPA. Their services will end up helping you earn more money than their fees.


Posted by: Renee on 2009-11-17, 11:50:13

You can only do a certian percentage each year but as long as you keep it strictly business computer you can claim it


Posted by: RibeiroWorld on 2009-11-17, 19:48:48

Go for it! How much you pay for it is important. If more than $1K, I would recommend you to depreciate it for over its useful life. There’s a set number of years provided by the IRS. Everything else, including the internet service is deductible. I’m a tax accountant.


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