abnerjack
Responses from abnerjack
| Audio tax write-off paulburnett,Forget what they do in Canada. For your question to be answered it would involved quite a bit of fact finding. The IRS does not recognize an LLC as a taxable entity. You have to choose how it is be taxed per the tax rules for sole p... | |
| Audio tax write-off An auditor would turn his or her head if you expensed a stapler, because it most likely would be deductible as a 179 deduction anyway. A $5,000 dollar computer. No. This is basic stuff.IRS publication 946, page 3: You can depreciate most types... | |
| Audio tax write-off 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. | |
| Audio tax write-off djones,I'm not sure where you got the $5000. Please explain? | |
| Maggies to Tekton? uberwaltz,I would love to hear the Spatials. Do you find that they need a good amount of space between them and the front wall, as do the Magnepans, due to the dipole/second wave effect? | |
| Audio tax write-off Sale of depreciable assets in a business is generally not capital gains tax, but can be taxable as recapture of a depreciable asset.From investopedia: Depreciation recapture is the gain realized by the sale of depreciable capital property that mu... | |
| Audio tax write-off djones, as I mentioned above, we're talking about assets that have a useful life expectancy of greater than 1 year and are depreciable assets, not supplies. They maybe be deductible as capital assets, subject to the depreciation rules, In some ... | |
| Audio tax write-off I'm not a CPA, but I did retire as a Tax Law Specialist from the IRS and trained accountants and tax preparers; I addressed this particular issue hundreds of times. As I mentioned above, it must first be determined what sort of tax entity you are... | |
| Audio tax write-off I highly recommend against accepting any tax advice you receive here. You should look at depreciation of said equipment and be aware that if you are using this equipment for personal use as well, there can be a huge effect. It also makes a diffe... | |
| Maggies to Tekton? jrod68, I think some are missing the fact that you are now in a different and smaller room than you were before. Like you, I too have a set of maggie 1.7's and love them, but will not be getting rid of them. I'm also playing around with some 2 wa... | |
| Tea For The Tillerman2 phcollie "Very strange time trip going on in my head right now.Proves the point, old guys can still kill it. Fact "I agree with this sentiment. I doubt if many, or any, would like this album better than the original. Especially for those of u... | |
| Charging A Fee To Demo An Amplifier In A Brick & Mortar Store smer319 I'd like to come to your store for a look around, but it's gonna cost you. | |
| Help me understand "the swarm" in the broader audiophile world northman,I've noticed this too. Everything matters, except when it doesn't. | |
| Main Audiogon site barely works? Not just you, same issue here. | |
| Audiophiles are not alone geoffkait,Read posts from frogman and rcprince. Get back to me if you don't understand. Do...you...understand??? |