Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (705)	2/14/1999 9:01:00 AM
From: mod	Read Replies (3) \| Respond to of 1383

Can't you just expense books using Sec. 179? The limit is pretty high these days. Actually, traders should be able to expense everything (computers, etc.) under Sec. 179, shouldn't they?

To: Colin Cody who wrote (705)	2/15/1999 6:53:00 PM
From: WPC9999	Respond to of 1383

About books again: So what kind of life should they be depreciated over. I could see two to five years being reasonable. But 10 or 20 would be ridiculous. My 20 books cost $930, which is an average price of $46.50. However, they range in price from $15 to $100. I really think it is not worth depreciating. It is just not that much. I would think the IRS is looking for bigger dollars than that. They certainly are good for more than one year though. In the hospital I worked in, we looked at things individually, not as a group. Course that was more for Medicare. They didn't allow depreciation on group purchases, a lot of small things that, grouped together would add up to more than the materiality guidelines. Thanks for all your responses.