2. misc-audio
  3. 160362-1601

Audio tax write-off

Hello,

I have a company that produces documentaries and podcasts on personal and commercial histories. I have needed to acquire computer equipment to do my work, and I've borrowed some equipment from my 2-channel system, such as headphones, as well. My question is, do any of you write off home audio audio acquisitions for your business? Do you know the tax rules on this? Does it have to be branded  as "pro" gear to qualify? Thinking I need a better DAC and studio monitors. If I bought a component called "Schiit," would the tax auditor go "nnnnnnnnnnoooooo?" 

Thanks for your input.

Paul


paulburnett
abnerjack
215 posts
 
djones,

I'm not sure where you got the $5000.  Please explain?
djones51
4,947 posts
 
It’s what we set as the capital assets threshold, if it cost $5000 or more life expectancy more than a year it's depreciated,  under it's expense in that year.
djones51
4,947 posts
 
You can't only use life expectancy, a stapler last more than a year, that's why you use  a capital threshold. This is basic stuff. 
abnerjack
215 posts
 
You don't set a dollar threshold.  Whether it cost $1,000 or $20,000, it is still subject to the rules of depreciation and is not an expendable asset.  You may be confusing an expendable asset with a section 179 deduction.
djones51
4,947 posts
 
You’re right as far as you go. Define capital assets? It’s life expectancy and cost there has to be a cost threshold or like I said we would be depreciating staplers and ink pens.
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