Ask Experts Questions for FREE Help !
Ask
    ritameneses's Avatar
    ritameneses Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Aug 26, 2008, 02:01 PM
    Do I have to expense the entire website this year?
    We already had a website set up before we opened, but we have now revamped it going forward. We spend over 25K on the new site, and I would hate to have to expense that all this year. Is there a way to spread the expense out?
    gobbledygook's Avatar
    gobbledygook Posts: 13, Reputation: 2
    New Member
    		  
    #2

    Aug 28, 2008, 05:28 PM
    Expense it on your own internal books, or via the IRS? Regarding your internal books, you have a selection of methods you can use. Same with the IRS when expensing it on your tax return. Reply with where you mean to expense it.
    Renaissance1967's Avatar
    Renaissance1967 Posts: 14, Reputation: 1
    New Member
    		  
    #3

    Aug 28, 2008, 10:37 PM
    It is likely to your advantage to expense as much as allowed for tax purposes.
    The only exception I can think of would be a NOL (net operating loss) situation where your current loss carryforward was limited or expected to expire before it could be used.

    Internally, you would want to use the method that best conforms to the benefit received from the asset.
    ritameneses's Avatar
    ritameneses Posts: 2, Reputation: 1
    New Member
    		  
    #4

    Aug 29, 2008, 09:22 AM
    We do not need or want to take the expense (internally at least). We have a rather large operating loss this year, and are hoping to help our bottom line. If I can do something that will work for the IRS too that would be helpful. How many years can I write it off over?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

My entire apt is on 1 15 amp circuit [ 4 Answers ]

Hi, I'm new here and have no idea what is going on but if someone could help me please!! I just moved into an old old old apt building that I love. As I was vacuuming, I blew the circuit. I suddenly realized my entire apt was on the same circuit. It is a one bedroom place, running on a 15amp...

Moving Expense and Traveller Expense [ 1 Answers ]

Brief History: I came to US on F1 in 2001 and graduated in 2003. I have been employed from October, 2003 on my OPT and my H1 started in May, 2004. I changed my employer in 2004 and in 2005 I had to leave the country to be with my family in my home country. I was out of the country from April 2005...

Prior Year Reimbursement for expense [ 1 Answers ]

We have completed our financial statements for prior years. We collected a check for prior year reimbursement. My co-workers are saying put it to the expense account is was taken from. I say no because the year has closed. Consider it non-operating income. What do we do?

Website Copyright: Current year or range of years? [ 7 Answers ]

Which is more appropriate for the copyright? Do you just show the current year, or show the range of years that the site has been up. © 2007 Or © 2005-2007

View more questions Search