Can I deduct the computer I bought last year, if I didn’t start my business until this year?

 

Question: Can I deduct the computer I bought last year, if I didn’t start my business until this year?

Answer: You will be able to deduct the cost of the computer, but you will need to figure out the market value of the computer when you put it into service. Watch the video below for a detailed explanation, or visit the IRS website for additional information regarding this topic.

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The Know Your Worth® program includes access to a Certified Public Accountant and a membership site which includes short videos and beautiful, downloadable guides that will walk you through the main topics in each lesson. Each lesson will be released on a weekly basis to ensure that you don’t get overloaded with information, and you have time to review and ask questions before proceeding. We have a private Facebook group for check-ins, questions, and accountability!

How to Make Your Rental Property Qualify for the QBI Deduction

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Amy Northard, CPA

The Accountant for Creatives®
+ taxes + bookkeeping + consulting
+ Hang out with me over on Instagram!

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