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  1. #1
    ABW Ambassador Doug247's Avatar
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    Talk About Pressure
    My boss, and President of the company, just gave me her home computer and asked my if I could fix it. She indicated she needs it to do her taxes.

    Umm ok I'll do my best.
    Thanks,
    Doug

  2. #2
    Beachy Bill's Avatar
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    Ouch! Nothing like a deadline - with your boss' head on the chopping block.
    Bill / Marketing Blog @ 12PM - Current project: Resurrecting my "baby" at South Baltimore..
    Cute Personal Checks and Business Checks
    If you are too busy to laugh you are too busy.

  3. #3
    Best New ABW Member 2007 sfcom's Avatar
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    What is wrong with it? Does she really need that computer, or just a computer?

    On a related (and sad) note, I am still finishing up my taxes. Does anyone know how much it pays off to depreciate business assets? I have a new Dell and a new dual monitor setup I put into service last fall (around $1300 total.) I have never depreciated my assets used in the biz but am considering doing so. It just shaves a small amount off your tax liability, right? Might not be worth the time...

    -sfcom


  4. #4
    ABW Ambassador Doug247's Avatar
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    She needs a computer. At this point it is probaly best to just the software setup and her data restored to the new computer.
    Thanks,
    Doug

  5. #5
    ABW Ambassador writerguy's Avatar
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    Boss's computer + immanent tax deadline = true pressure indeed. Let us know what happens.
    Generate more fake news.

  6. #6
    Beachy Bill's Avatar
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    Quote Originally Posted by sfcom
    What is wrong with it? Does she really need that computer, or just a computer?

    On a related (and sad) note, I am still finishing up my taxes. Does anyone know how much it pays off to depreciate business assets? I have a new Dell and a new dual monitor setup I put into service last fall (around $1300 total.) I have never depreciated my assets used in the biz but am considering doing so. It just shaves a small amount off your tax liability, right? Might not be worth the time...

    -sfcom
    Sizable assets (furniture, car) need to be depreciated. However a computer, at the dollar value you mentioned, can be "expensed" in the year it is put into service. That means the entire cost (if you use it "entirely" for business) can be deducted. I bought a new MacBook last year - I deducted the $1100, yielding me an "benefit" of 41% of that cost toward my tax liability (a savings of $451). The 41% is a rounded off tax percentage for someone earning a moderate income from his/her business and paying both portions of the social security/self employment tax.

    Keep in mind, please, that I am not a tax accountant.
    Bill / Marketing Blog @ 12PM - Current project: Resurrecting my "baby" at South Baltimore..
    Cute Personal Checks and Business Checks
    If you are too busy to laugh you are too busy.

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