On Thu, Jan 20, 2011 at 1:19 PM, Greg Morphis <[email protected]> wrote: > What if I > bought the PC a couple years ago but now it's solely used for > business? Can you only claim items you've purchased while hired as a > 1099? The reason I ask is because I read something about computers and > peripherals being some kind of 5 year property.
I would seriously ask a CPA that. One this I can say that you might consider... Choose a credit card to designate as a business card, even if it's really one of your own personal cards. Use that only for things related to your business, things you plan to deduct. This will make it WAY easier to "gather receipts" at the end of the year since you will know it's all sitting on that card. You might also consider opening a business checking account for the same reason. It will help you keep the business income and expenses straight. Being a 1099 is really more similar to being a small business owner anyways, you just don't have a corporate tax ID. Thought - if you wanted to you could - but that's a whole other discussion. -Cameron ... ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:333622 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
