Is My Business Laptop a Tax Deduction?
Generally speaking, yes. If your laptop is used for your small business, it is a tax deduction. However, the cost of the laptop will determine whether it can be claimed as a tax deduction immediately, or whether it must be depreciated (claimed over a number of years).
These rules apply not just to laptops, but to most other assets/equipment purchased for your small business.
What are the rules
If you have a small business (small business entity) which is an individual, partnership, trust or company with aggregated turnover of less than $2 million, than you can use the simplified depreciation rules. Continue reading “Tax Tip Tuesday: Is My Business Laptop a Tax Deduction?”
