A quick reminder about gadgets and taxes

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.

About Rob Beschizza

Follow Rob @beschizza on Twitter.
This entry was posted in Consumption. Bookmark the permalink.

Leave a Reply


More BB

Boing Boing Video

Flickr Pool




Displays ads via FM Tech

RSS and Email

This work is licensed under a Creative Commons License permitting non-commercial sharing with attribution. Boing Boing is a trademark of Happy Mutants LLC in the United States and other countries.

FM Tech