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Yes, my family practices trickle-down iPhoneconomics. I get the new one every year, because it's a tax thing. I give my old one to my wife, and whichever kid
by mig39 2y ago
Yes, my family practices trickle-down iPhoneconomics. I get the new one every year, because it's a tax thing. I give my old one to my wife, and whichever kid has the oldest phone gets hers.
- lotsofpulp 2y agoWhat tax thing results it being cheaper for you to buy a new iPhone rather than not buy a new iPhone?
- Mathnerd314 2y agoProbably as a business expense it can be deducted from income for the business + no increase in personal income for him. It's not free but is something like a 50% savings vs. paying himself and buying it personally.
- mercutio2 2y agoYou really can’t hand down your business expensed iPhone to a family member. That’s liable to land you in hot water in an audit.
- tedunangst 2y agoGotta write off the wife, too.
- ackfoobar 2y agoI guess he buys it from his business at a (heavily) depreciated price?
- kaba0 2y agoYeah, electronic devices has crazy high depreciation rates.
- rootusrootus 2y agoUnless it's over $2500 it's probably a business expense and not an asset, so the IRS wouldn't care what you did with it later.
- moneywoes 2y agosource for this?
- rootusrootus 2y agomy accountant.
- mercutio2 2y agoWow! You're right, since 2010 cell phones (and computers under $2500) haven't been listed property. I stand corrected.
- WheatMillington 2y agoThey write it off, Jerry.
- goryramsy 2y agoYou don't even know what a write-off is! Do you?
- crooked-v 2y ago> because it's a tax thing How so?
- thih9 2y agoLike this: it’s an excuse to buy the latest phone. As long as other family members are happy with a steady stream of hand me downs, no harm done I guess.
- sureIy 2y agoThis makes zero sense. Unless there’s a specific need to replace or upgrade at the tail end, not buying a new phone will continue to work. This is just a new excuse to get a new phone with extra steps. If you want a new iPhone, get a new iPhone, just be honest with yourself.
- kaba0 2y agoIt’s pipelining. Everyone gets a better phone for the price of one.
- ricw 2y agoPhones can be purchased through your company as a perk using pre-tax dollars, as everyone uses their phone for business.
- mason55 2y agoIt's still cheaper to not buy a phone. Yes, buying with pre-tax dollars is cheaper than at a store. But not buying one at all is even cheaper. And business expenses, like a new phone, are usually above the line, meaning you essentially get a discount of your marginal tax rate, you don't just get it for free.
- jessriedel 2y agoYes of course it still costs money and not worth it if you derive zero benefit. But you pay less money, so you expect over many users there will be several for whom its worth upgrading at the lower price but not the higher price.