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Originally Posted by Doctor Feelgood
how about a new laptop? or a HDTV?? are they office supplies?
What exactly is depreciation of your PC/Printer/Scanner/Assorted electronic equipment??
small portion of your house/apartment?? you mean a portion of your rent?
how about epassporte $2 withdrawal fee's ?? and how do you prove it?
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If your laptop is used for business purposes only you can begin to depreciate it on your taxes. As for the HDTV I would not push it the IRS is looking into many small business's this year.
Depreciation is typically done over 5 years and is based on the value the equipment holds over that period of time before it is consider or no value or scrap. You could do more of a lump sum type ordeal but most accountants depreciate assets such as PC's and even cars.
Yes you can deduct the square footage of your home or appartment that is used for business purposes only. This may also include utilities and the like all based on that percentage. Many however do not do this as some see it as an IRS red flag. So lets assume your apartment is 1,000 square feet. Your rent, utilities, condo fee's, are a combined 1000.00 a month. Then your office space took up one room which was 100 square feet. You could then deduct 100.00 a month for your home office space.
When you withdraw money from an ATM do you not get a reciept showing how much your withdrew as well as the fee associated with it? That would be our proof. By the way normal ATM fee's attached to your business account also would apply.
You also do know an accountant or CPA not only can get you more money, they too are tax deductable as a business expense.