The IRS got me good last year, my first delve into the wonderful life of freelance journalism. The moral of the story is, as always, that tax deductions might not save you as much money as you think.
Remember all those gadgets we buy for work, dismissing the expense as a write-off? The deduction is from income, not from the tax bill itself. In practice, this means you only get a portion of your outlay back, depending on your income bracket. Even under Section 179, that $3,600 laptop isn’t so cheap now, is it?
But don’t trust my advice: talk to your CPA. Or to the software with which you have replaced it.