View Full Version : Starting new business
blkep
Oct 2, 2014, 03:10 PM
Hi I am starting a new business and in need of equipment in my quest for it I was told if I lease equipment and buy it for a dollar at the end of the lease I could write it off 100% opposed to if I finance it and buy t our right I can only write off 50% of it on my taxes does anyone know what is the truth? I am trying to buy a $2000.00 sandwich fridge.
AtlantaTaxExpert
Oct 2, 2014, 07:22 PM
Depends on WHAT TYPE of equipment and HOW MUCH you spend.
blkep
Oct 3, 2014, 07:31 AM
I am trying to buy a sandwich fridge that costs about $2000.00
AtlantaTaxExpert
Oct 3, 2014, 09:33 AM
You will be able to expense (write off the entire $2,000) in the first year using the Section 179 deduction under your Schedule C.
Just BUY it.