Thats my point - there are no guidelines. The IRS makes the rules! >From what I can tell, the only way to fight the IRS is to use "industry standards". Hence, my question. With equipment (radios, antennas, etc) being so cheap, it no longer makes sense to depreciate it. Of course it does with vehicles and other high dollar items. I continue to get feedback from the CPA's I speak with that "you MUST". At least I'm not the only one shocked at this!
On Thu, Jun 3, 2010 at 3:05 PM, Jason Hensley <[email protected]> wrote: > I think that is Travis' point though - is that there are no set guidelines > on what to do. > > >From my understanding, and to put in very simple terms, to expense the > equipment means that you take the entire possible deduction for that > equipment immediately. To depreciate it means that over time (be it > 2,3,5,10 years, etc) you take the entire possible deduction. Someone please > correct me if I'm wrong on this though. > > We're like Travis - some things we expense, some we depreciate. Most of our > wireless equipment we expense out, but stuff like our vehicles, towers, etc, > we will typically depreciate so that we can maximize the potential taxes on > those items. > > I would think that a good accountant would not say you HAVE to expense it > all or that you HAVE to depreciate it all. I would think that they would > look at your situation and do whatever maximizes the use of the equipment to > lower your tax liability. > > > > > > > > > -----Original Message----- > From: [email protected] [mailto:[email protected]] On > Behalf Of RickG > Sent: Thursday, June 03, 2010 1:55 PM > To: WISPA General List > Subject: Re: [WISPA] taxes > > Travis, thanks for your input. I'm really looking for feedback as to > what our industry's standard is. I submit that the IRS does not look > at it as a "personal, business choice". I'd rather do it correctly now > than find out from the IRS I'm doing it wrong. > > On Thu, Jun 3, 2010 at 12:44 PM, Travis Johnson <[email protected]> wrote: >> This is a personal, business choice. There is no set answer. Some of our >> equipment we expense and some we depreciate. It all depends on what tax >> breaks you need now vs. later. >> >> Travis >> Microserv >> >> >> RickG wrote: >>> Everyone's favorite subject :) >>> >>> I'm getting mixed information form my accountants on this and want to >>> know what everyone else is doing. The basic question is this: Are you >>> expensing or depreciating the equipment? Equipment being radios (AP & >>> CPE), antennas, switches, firewalls, etc. >>> With the cost of the electronics being so low, its not making much >>> sense to depreciate. Which takes me to a second question: Have any >>> WISPs been audited by the IRS for this reason? >>> >>> Thanks in advance! -RickG >>> >>> >>> > ---------------------------------------------------------------------------- > ---- >>> WISPA Wants You! Join today! >>> http://signup.wispa.org/ >>> > ---------------------------------------------------------------------------- > ---- >>> >>> WISPA Wireless List: [email protected] >>> >>> Subscribe/Unsubscribe: >>> http://lists.wispa.org/mailman/listinfo/wireless >>> >>> Archives: http://lists.wispa.org/pipermail/wireless/ >>> >>> >> >> >> > ---------------------------------------------------------------------------- > ---- >> WISPA Wants You! Join today! >> http://signup.wispa.org/ >> > ---------------------------------------------------------------------------- > ---- >> >> WISPA Wireless List: [email protected] >> >> Subscribe/Unsubscribe: >> http://lists.wispa.org/mailman/listinfo/wireless >> >> Archives: http://lists.wispa.org/pipermail/wireless/ >> > > > ---------------------------------------------------------------------------- > ---- > WISPA Wants You! Join today! > http://signup.wispa.org/ > ---------------------------------------------------------------------------- > ---- > > WISPA Wireless List: [email protected] > > Subscribe/Unsubscribe: > http://lists.wispa.org/mailman/listinfo/wireless > > Archives: http://lists.wispa.org/pipermail/wireless/ > > > > -------------------------------------------------------------------------------- > WISPA Wants You! Join today! > http://signup.wispa.org/ > -------------------------------------------------------------------------------- > > WISPA Wireless List: [email protected] > > Subscribe/Unsubscribe: > http://lists.wispa.org/mailman/listinfo/wireless > > Archives: http://lists.wispa.org/pipermail/wireless/ > -------------------------------------------------------------------------------- WISPA Wants You! Join today! http://signup.wispa.org/ -------------------------------------------------------------------------------- WISPA Wireless List: [email protected] Subscribe/Unsubscribe: http://lists.wispa.org/mailman/listinfo/wireless Archives: http://lists.wispa.org/pipermail/wireless/
