5 ms·
Are there tax implications? Do the laptops count as losses CircleCI can write off, and compensation the ex-employee has to report?
by trynewideas 4y ago
Are there tax implications? Do the laptops count as losses CircleCI can write off, and compensation the ex-employee has to report?
- prepend 4y agoLaptops aren’t typically amortized and are immediately written off and depreciated the year of purchase. So it’s probably not a tax write off but is a loss of whatever the laptops would get in bankruptcy liquidation.
- khuey 4y agoThis depends on the size of the company. It probably doesn't affect CircleCI but Section 179 deductions are limited to small and midsize companies.
- bink 4y agoProbably has to be treated as income by the employee as well.
- prepend 4y agoNot if it’s depreciated to zero value. It’s considered worthless for tax purposes.