What is the commonly used estimated useful life of electronic devices for depreciation purposes?

Question

kindly separate into different categories, like videocams, digital stillshot cams, pc, lens, etc... Thanks a lot!

Answer 1

For personal use, I'd say 10 years for lenses + film gear, 5 for digital bodies + videocams, and 2 for point & shoots.

For tax purposes, talk to an accountant. Here are some quotes from the dpreview Pro forum for the situation in the USA: (http://forums.dpreview.com/forums/forum.asp?forum=1014 )

"Generally, you depreciate camera equipt over a fixed period of time (usually 5 or 7 years) determined by IRS Regulations or you can take a Sec 179 Deduction and write it all off in the year you purchase the equipt. up to the current limit."

"Partial photography businesses are a PRIME IRS target."

". . . hire a knowledgeable CPA. The IRS has very specific standards it applies to small businesses in judging whether they are "legitimate" or not, and a good CPA will not only help you prepare your taxes in the best possible way, but can also give you advice on how to run your business so as not to cause the IRS to rule that you have a hobby, not a business.
In addition, depreciating equipment and writing off expenses is a tricky business, and again, a CPA can steer you around land mines, and make sure you're getting maximum benefit."

Answer 2

You might make out better asking this question in "Business & Finance" under "Taxes" or "Small Business" where you are likely to encounter a few accountants who know this information without looking it up.