Archived posting to the Leica Users Group, 2008/02/28
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]In general there's a bit of a judgment call in this; significant items which you expect to use over a period of time should be listed and depreciated individually; smaller items and things with short usage periods can be expensed (and grouped together as "camera equipment." BUT you should also look into the Sec. 179 election on form 4562, which can make the entire question moot especially for ditcams which have a long functional life but perhaps a shorter professionally useful life due to technical and market obsolescence issues. Strongly advise that if you're talking significant money you consult a professional or someone qualified to give tax advice (I was, years ago, but I retired and let my CPA lapse when I took up photography.) Quoth the Kyle Cassidy : > > hey kids -- > i have a lot more photo-bidnezz related expenses this year around > and I have a question about how to list stuff on my tax return. I > have, for example, a pair of pocket wizards, which cost about $200 > each, and and then various $20 filters, $90 camera bags, and $100 > doo dads and finders and whatnot -- do I have to list all this stuff > individually? Or can I say like "$354.42 mis. camera > equipment/supplies" is there a dollar cutoff where I need to list > things individually? > > I have a pile of receipts like a foot high. Yikes! > > kc > > _______________________________________________ > Leica Users Group. > See http://leica-users.org/mailman/listinfo/lug for more > information -- R. Clayton McKee http://www.rcmckee.com Photojournalist rcmckee@rcmckee.com P O Box 571900 voice/fax 713/783-3502 Houston, TX 77257-1900 cell phone # on request