12-05-2011, 07:36 PM
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It's 42
Industry Role:
Join Date: Jun 2010
Location: Global
Posts: 18,083
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There was a change that allows a 179 deduction for cell phones (US IRS) I found so a smart phone is not a computer then ...
Computers can be elected for 179 depreciation also; (179 = 100% expensed out with accelerated deprecation in the current tax year.)
So, the Apple ad has merits. You can debate the value of the product till the cows come home, but on its surface; it is a valid point.
Quote:
http://www.schneiderdowns.com/Cell_Phone_Deduction
As part of the Small Business Jobs Act of 2010, signed into law by President Obama on September 27, 2010, cellular telephones and other similar telecommunications equipment are no longer classified as ?listed property? for deduction and depreciation purposes, effective for tax years beginning after December 31, 2009.
The rules regarding IRC Section 179 deductions, however, apply to listed and nonlisted property alike. Therefore, under the new law, cell phones still must be used for business purposes greater than 50% in the year placed in service in order to take an IRC Section 179 deduction. Also, if business use is greater than 50% in the year placed in service but falls below 50% in subsequent years, any IRC Section 179 deduction must be recaptured.
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For discussion not tax advice. |
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