Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Path: utzoo!linus!decvax!tektronix!tekecs!andrew
From: andrew@tekecs.UUCP (Andrew Klossner)
Newsgroups: net.taxes
Subject: Re: Deducting Personal Computers?
Message-ID: <1897@tekecs.UUCP>
Date: Tue, 23-Aug-83 19:10:36 EDT
Article-I.D.: tekecs.1897
Posted: Tue Aug 23 19:10:36 1983
Date-Received: Fri, 26-Aug-83 00:42:07 EDT
References: hplabs.1758
Lines: 16

For tax year 1983 you can expense up to $10,000 (that's ten thousand
bucks for those of you with broken net news) of capital equipment when
you're filing a schedule C, under ACRS.  (A net correspondent reported
the amount to be $5,000 (five thousand), which was true for previous
tax years.)  This doesn't seem to apply to anything other than
business-acquired capital, i.e., I don't believe that it will work as a
miscellaneous employee expense.

Anyone who's serious about writing off the cost of computer equipment
should probably set up a business anyway, so as to avoid the murk of
schedule A.  You need to be in a profit-making endeavor and you must
show a profit for two out of five years of business.  Getting a DBA
card from the state and opening a business checking account are good
ideas.

  -=- Andrew Klossner  (decvax!tektronix!tekecs!andrew)