My original question was:My wife and I are considering buying a computer or two within the next few weeks. Presently, we both are salaried employees at our respective jobs, and we anticipate staying that way for 2-3 more years. We both expect to make substantial business use of our computer(s), along with some personal use.After 2-3 years, my wife will remain at her salaried teaching job, but I hope to become a partner at my firm. What tax planning opportunities, if any, are available to us regarding the computer(s)? Specifically, how much advantage, if any, is there to designating one computer "work-only," or "Bob's work only"? Does the analysis change if I reach the Promised Land (partnership)? Our combined income is pretty high, so we probably can't make the 2% floor for miscellaneous itemized deductions. Thanks.TMFTaxes (soundly) replied (in part):Again, for a little back[g]round, you should go to the post on this issue in the Taxes FAQ area.I continue:I am now clear that we do not presently qualify for business use treatment because our use of a home computer is not required by either of our employers. Do the rules change, though, when and if I make partner? Once that happens, I would be self-employed, right? If so, does that loosen the requirements for business use or permit me to avoid the 2% AGI floor on miscellaneous deductions? Thanks again. --Bob
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra