What does your accountant say about this? - GoFuckYourself.com

B_Maverick · 01-16-2008, 04:35 AM

Does he tell you to write off content as an expense, or as a fixed asset?

An expense can be written off in the year it was incurred, but a fixed asset is typically depreciated over a period of years.

There is a rule that allows 100% depreciation of assets that are under a certain value.

So how does your accountant tell you to write off your content?

After Shock Media · 01-16-2008, 04:41 AM

Purchased/licensed content is an expense and exclusive shot content is a fixed asset for us that is depreciated over 5 years before it is considered nothing more than bulk/scrap.

PS if anyone needs a good accountant for next tax season or quarterlies I have one that will handle it all online and over the phone that is completely cool with working with those in the adult sector. He is too booked for this tax period but in general is great to work with.

01-16-2008, 04:35 AM	#1
B_Maverick Confirmed User Join Date: Dec 2002 Posts: 447	What does your accountant say about this? Does he tell you to write off content as an expense, or as a fixed asset? An expense can be written off in the year it was incurred, but a fixed asset is typically depreciated over a period of years. There is a rule that allows 100% depreciation of assets that are under a certain value. So how does your accountant tell you to write off your content? __________________ Sig too big http://www.gofuckyourself.com/gfy_faqs.html Want to use a large banner in your sig??? Contact Eric about getting on as an advertiser - eric AT adult.com

01-16-2008, 04:41 AM	#2
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Purchased/licensed content is an expense and exclusive shot content is a fixed asset for us that is depreciated over 5 years before it is considered nothing more than bulk/scrap. PS if anyone needs a good accountant for next tax season or quarterlies I have one that will handle it all online and over the phone that is completely cool with working with those in the adult sector. He is too booked for this tax period but in general is great to work with. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]