Tax Question About Depreciation

[Lee]

Does anyone know where i can find the limitations on depreciating business equipment on the IRS website, the bookmark i have saved doesnt seem to be working any longer and i cant remember what the time period is on depreciating office equipment, pc's, etc...

Regards,

Lee

[nickbaer]

Google Search returns quite a few results, but none from irs.gov in the top 20.

Search: depreciating business equipment 2008

We might be 6 days too early for the official IRS rules!

On capital equipment, my CPA elects to expense it 100%. It looks like for 2008, that election can occur if your purchases are up to $108,000.

http://www.groco.com/readingroom/sec...equipment.aspx

But your CPA would know best as applies to your state.

[Lee]

On capital equipment, my CPA elects to expense it 100%. It looks like for 2008, that election can occur if your purchases are up to $108,000.

Thats the problem, we spent almost $350,000 this year on 'business' related equipment and our accountant is away until Wednesday so im trying to find out the stuff we can give her and the stuff we shouldnt bother with to save on time.

Regards,

Lee

[maxx68]

Lee...

I don't know if these will help:

http://www.irs.gov/publications/p946/ch02.html

http://www.taxalmanac.org/index.php/...sonal_purposes

http://www.microsoft.com/smallbusine...sinessexpenses

http://www.bankrate.com/brm/itax/tax...20030328a1.asp

Sorry about the long links.