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newbee
Forums Member
Joined: 29 Aug 2009
Posts: 6
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#1 · Posted: 29 Aug 2009 19:25
I currently work at home with a company. I was not hired to work from home but had worked for them for quite a while and because my commute was over 100 miles a day they let me work from home on a trial bases in January and it has turned into a perm. opportunity.
I love my job and don't want to quit but was thinking about a part time job. (home base) They require certain computer speed, etc. My question is if I update my personnel computer is this tax deductable?
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BobFirestone
Forums Member
Joined: 1 Jul 2009
Posts: 144
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#2 · Posted: 2 Sep 2009 03:50
Talk to an accountant about your specific situation.
There are many variables to how much if any of the purchase will actually be tax deductible. If it is deductible you will only get a percentage back on your tax return.
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Newbie Shield
Joined: 22 Sep 2007
Posts: 2226
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#3 · Posted: 2 Sep 2009 08:03
Hi newbee,
As Bob mentioned, you'll have to talk to your CPA for specifics.
However, computer hardware tends to be tax deductible if the primary use is for business.
As an aside, hardware typically gets treated like factory machines in that the deductions are incrementally spread out over a 5 year period.
I'm not a CPA or a tax attorney so I'm not qualified to give out accurate tax advice.
~Newbie Shield~
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mountainmom5
Joined: 30 Aug 2007
Posts: 3099
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#4 · Posted: 2 Sep 2009 08:52
Newbie Shield: As an aside, hardware typically gets treated like factory machines in that the deductions are incrementally spread out over a 5 year period.
That's what they did with mine - I actually think it was a period of three years though....
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joanpeterson
Forums Member
Joined: 29 Jul 2009
Posts: 149
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#5 · Posted: 4 Sep 2009 02:57
Yes, talk to a tax accountant. As well, it might be a good idea to send a letter to the IRS and tell them your specifics. At least then, you will have a written response of what they said to back you up in the future....if needed.
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