I work from home as a medical transcriptionist. I bought my laptop to finish my online schooling, and for work. I got it in June 2006, and started working in November. I have the reciept. The total cost, with tax, the carrying case and product protection plan, was around $1700. What I am able to claim?
2007-01-12 11:48:16 · 9 answers · asked by katfred76 2 in Business & Finance ➔ Taxes ➔ United States
Sure. Just be aware that once you do, it's no longer covered on your homeowners insurance should it be stolen or in a fire or anything, and now you also have to pay business taxes on it. Still want to deduct it?
2007-01-12 11:54:11 · answer #1 · answered by Lisa A 7 · 0⤊ 2⤋
Yes you can claim it on your taxes . It will be a minimum of 30% to a max of 100% ( 1st year only)
I use a turbo tax or tax cut and by answering the questions it offers it will automatically do the deductions for you.
Don't forget to deduct the following:
Phones if used for business includes cell phone.
Paper supplies etc.used for your business and resumes.
Any other business equipment etc.
Your car /milage %
2007-01-12 11:54:53 · answer #2 · answered by That_ blue_ eyed_ Irish_ lass 6 · 1⤊ 0⤋
You could deduct it as a business expense, but you'd either have to itemize, or you could just do it on the Schedule C. The extremely short answer is, because it was used for a business purpose, YES you can deduct it.
2007-01-12 11:52:23 · answer #3 · answered by gengidashiell 3 · 0⤊ 0⤋
if you werent already employed as a transcriptionist in june, theres scant little you can do to write it off -- unless you can claim it was a part of your start-up expenses. bit of a tough sell though, IMO. id consult a tax preparer on this.
2007-01-12 11:53:45 · answer #4 · answered by John K 2 · 0⤊ 0⤋
Probably
If you were required by your employer to provide a computer to do your work, then yes it is deductable.
Where it is deductable depends if you are self-employed (1099) or an employee (W2).
2007-01-12 11:51:27 · answer #5 · answered by Wayne Z 7 · 1⤊ 0⤋
Depending on the reasion you purchased it.
School
work related
Etc..
2007-01-12 11:50:42 · answer #6 · answered by Don 2 · 0⤊ 0⤋
well you use it for work so i don't see why not.
2007-01-12 11:50:37 · answer #7 · answered by cavigirl17 4 · 0⤊ 0⤋
yep, keep that receipt.
2007-01-12 11:55:29 · answer #8 · answered by Malacove 3 · 0⤊ 0⤋
depends what kind of laptop do you have?
2007-01-12 11:50:50 · answer #9 · answered by Anonymous · 0⤊ 5⤋