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You 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.
by mercutio2 2y ago
You 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.