If I buy a new computer this year do I have to deduct the cost over a five year period?

In Taxes - Business - Asked by Admin - 2 years ago

Probably not. Under Section 179, you can deduct in one year the cost of tangible personal property that you buy for your business (such as computers, office furniture, and equipment). This is a major exception to the general rule that the cost of capital equipment -- equipment that has a useful life of more than one year, such as a computer system -- must be deducted over a number of years.

Answered by Admin - 2 years ago

Tags: business taxes, tax, taxes, deduction, computer depreciation, if i buy a new computer this year do i have to deduct the cost over a five year period?

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Business taxes are a necessity to all business including both big and small businesses. Taxes are filed yearly and if you overpay during the year you will be entitled to a tax return, a check from the IRS. As a business you will also needed to keep track of your tax deductions. Zuuply.com provides you with all the help and answers you need including information on questions like "if i buy a new computer this year do i have to deduct the cost over a five year period?".

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If I buy a new computer this year do I have to deduct the cost over a five year period?

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