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November 22, 2018
Question

Filing a computer bought in November

  • November 22, 2018
  • 1 reply
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Can i buy a computer in November and claim it in the same year?

This computer is for professional use only.

 

If it's worth $1500, and i earn 50000K what percentage will i get back?

    1 reply

    Carl11_2
    November 22, 2018

    Is this for some type of business you own, such as a single member LLC, multi-member LLC, S-Corp or something? If not, then work related expenses for a W-2 job are no longer deductible. Not a single penny.

    amitevenAuthor
    November 23, 2018
    I'm a self employed software developer
    Carl11_2
    November 23, 2018

    Being self-employed you have choices on how to handle many assets that cost less than $2500. With a computer one choice is to list it as a business asset and depreciate it over 5 years. But I can tell you right now that for a computer that costs $1500 (it's value is irrelevant, it's what you actually paid for it that matters) depreciating $150 a year over 5 years barely makes any difference on your tax liability, *if* it makes any difference at all.

    Your other choice is to just expense the item under the de-minimus safe harbor rules and deduct it's full cost in the same tax year you paid that cost. So if the computer was purchased in 2018 and purchased specifically and explicitly for the business (which I'm sure it was for a graphics designer) then just expense it in the Business Expenses section, Other Common Business Expenses section in "Other Miscellaneous Expenses" and you'll be fine.