[Leica] TAX question: Should I buy an M10?

[Don Dory]

Thank you Marshall, it has been awhile since I could use a business expense
and at that time I had to use depreciation over time.

On Thu, Dec 28, 2017 at 12:28 AM, Marshall Hunt <huntmc2 at gmail.com> wrote:

> Internal Revenue Code Section 179 allows the immediate expensing of
> business equipment on Schedule C instead of using depreciation expense over
> a period of time.  there is a limit of the amount of the expense, which is
> your income from business, or $X, whichever is less. X varies from year to
> year, and I am not sure what it will be for 2017.
> https://www.irs.gov/publications/p946
>
> On Wed, Dec 27, 2017 at 5:37 PM, Keith Wessel <keith at wesselphoto.com>
> wrote:
>
> > This article suggests the new restrictions only apply to Schedule A
> >
> > https://www.inc.com/erik-sherman/stop-panicking-tax-
> > bills-dont-eliminate-your-business-expenses.html
> >
> > Sent from Mail for Windows 10
> >
> > From: kyle cassidy on the lug
> > Sent: Wednesday, December 27, 2017 11:09 AM
> > To: lug at leica-users.org
> > Subject: [Leica] TAX question: Should I buy an M10?
> >
> > Hi folks —
> >
> > I’m probably not alone in not understanding the implications of the new
> > tax bill.
> >
> > I wasn’t planning on buying an M10 this year, but possibly sometime in
> the
> > coming year, maybe who knows, I’m doing ok with my M240’s. I had a book
> do
> > well and as a result I’ve a fat chunk of change sitting in the bank but
> I’m
> > concerned by all the armchair tax advisors on Facebook saying that small
> > business deductions are going away after this year.
> >
> > I file a 1040 as well as a schedule C.
> >
> > The Washington Post’s article “5 things to do before Jan 1 to lower your
> > tax bill” advised professionals to buy all their high end purchases now.
> > But I’m not sure if they’re talking about Schedule A or Schedule C.
> >
> > Does anybody with actual understanding of this know if I’ll still be able
> > to deduct equipment expenses that I make next year, or should I blow
> > through all this money on gear I’ll need for the future this year?
> >
> > That said, replace the Dlux-4 with a type 109? yes? or don’t bother?
> >
> > thanks for your time & expertise —
> >
> > Kyle
> >
> >
> >
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> >
> >
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> >
>
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-- 
Don
don.dory at gmail.com