Depreciation on equipment


M

Man with a camera

Last year I purchased a considerable amount of equipment. Is
there any way that I can take the full depreciation this
year? The equipment ranges from cameras to office equipment.
What are my options?

Ray
 
Ad

Advertisements

H

Harlan Lunsford

Man said:
Last year I purchased a considerable amount of equipment. Is
there any way that I can take the full depreciation this
year? The equipment ranges from cameras to office equipment.
What are my options?
Could you perhaps define "considerable"?

Cheer$,
Harlan Lunsford, EA n LA
 
Ad

Advertisements

H

Harlan Lunsford

About $10,000 in studio and office equipment.
Okay then. What you're looking to do, then, is use SEction
179 for the cost of the equipment. Just be advised that
your profits, and/or your w2 income must be sufficient to
absorb such a deduction. If you're a partnership or S
Corporation, it's a horse of a different colour.

Cheer$,
Harlan Lunsford, EA n LA
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top