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    blkep's Avatar
    blkep Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Oct 2, 2014, 03:10 PM
    Starting new business
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Oct 2, 2014, 07:22 PM
    Depends on WHAT TYPE of equipment and HOW MUCH you spend.
    blkep's Avatar
    blkep Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Oct 3, 2014, 07:31 AM
    I am trying to buy a sandwich fridge that costs about $2000.00
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    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.
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