Can I deduct the laptop I bought in 2006 on my 2006 taxes?

Question

I am a supervisor for a large construction company. I build communication towers and spend much of the year in a hotel room. I use the computer for sending work pictures, turning in time,receiving e-mails on jobs, etc. Also I was wondering if I could get a credit or deduction for paying for my fiancee's tuition for beauty school. It was a little over $400.

Answer 1

As long as you can prove it's being used for a business, and as long as you have the receipt. If you are filing together, yes you can deduct your fiancees tuition. But you will have to make sure you've got a receipt from the school. And it has to be a large enough amount before it'll even matter. I deducted $500 for books and it didn't even help. But if yours is a large enough deduction it'll probably help you.

Answer 2

You should be able to deduct the laptop from your taxes since this can be seen as a business expenditure (as long as you could prove it wasn't bought for personal reasons).

As for the tuition, that is a tricky situation. It technically was a "gift" as I see it. That's the thing about taxes; so many things can be manipulated in so many ways.

Since I'm not a fully qualified CPA as of yet, you might want to get a second opinion.

Answer 3

You can very possibly deduct the cost of the laptop as an unreimbursed business expense if you itemize. You can only deduct unreimbursed business expenses that exceed 2% of your AGI.

As for your fiancee's tuition, not likely. If she's your dependent, and if the school is an eligible institution for FAFSA student aid, then maybe.

Answer 4

You can depreciate the laptop, fully expense it.

To count your fiancee's tuition she would have to be your dependent.

Answer 5

the laptop i would imagine so since it is equipment needed for your job. the beauty school... im not sure... but probably since its school.