I'd like to see that written somewhere. The "about $100" value was
quoted to me by the IRS help desk in Boston by a woman claiming that,
although the IRS didn't really have any official cut-off, when she
worked as an inspector it was only things over $100 that would ever draw
any scrutiny.
But I'd be really happy to have it be $5,000. I wouldn't have to
depreciate anything.
Chuck Norcutt
James N. McBride wrote:
> The US tax code was changed many years ago to raise the dollar value
> requiring equipment depreciation. I forget the value threshold but remember
> it being around $5000. You can do it for smaller items but the record
> keeping is a pain. It's much easier to just expense it. Photography is
> subject to the "hobby business" scrutiny but the IRS cannot force a business
> to make money. They may make you prove that you are really running a
> business though. What they actually do depends on the agent processing your
> return and it's very inconsistent. /jmac
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