How do I deduct a computer and laptop from taxes?
In 2007 I purchased a laptop and computer both for 0 each which are used for my Internet business…Can I deduct the total cost of ,800? Or if I can’t deduct ,800…what is the amount I can deduct?
Yes they are solely for business…I have 3 laptops and 1 desktop and the other two I had prior to 2007, I use for non-business reasons and I don’t want any deductions for those two older laptops.
are they both used soley for the business?
If yes, you may have to depreciate them (basically, claim the value as a deduction over a number of years).
If not, don’t risk the audit by trying to claim them.