2 ms·
Remember if you are a business you’d have written off the machine in tax already, so the $1K is really just a bonus
by daniel_iversen 4y ago
Remember if you are a business you’d have written off the machine in tax already, so the $1K is really just a bonus
- coryrc 4y agoJerry : You don’t even know what a write off is. Kramer : Do you? Jerry : No. I don’t. Kramer : But they do, and they are the ones writing it off. aka that's not how write-offs work
- TAForObvReasons 4y agoNot an accountant. 3 years is shorter than the expected 5-year depreciation [1], so if you took a section 179 deduction you may have to pay some of it back. It may actually be worse to trade in than to let the machine sit for a few years. [1] https://www.irs.gov/publications/p946#en_US_2020_publink1000107533 https://www.irs.gov/publications/p946#en_US_2020_publink1000...