- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Tax Advice - Laptop purchase deduction?
Posted on 11/25/12 at 10:19 am
Posted on 11/25/12 at 10:19 am
I am an IT manager at a 50+ employee company in Baton Rouge. I have to work from home quite a bit and being the IT person I am always on call even when I am off. I was wondering if I buy an ultrabook can I deduct the total cost from my personal taxes or does it have to be a certain percentage of my total income to deduct it?
Thanks in advance.
Thanks in advance.
4
Posted on 11/25/12 at 3:11 pm to KT70
Deduct the whole thing.
Posted on 11/25/12 at 3:16 pm to zeebo
quote:
Deduct the whole thing.
Do you not have to capitalize it?
This post was edited on 11/25/12 at 3:17 pm
Posted on 11/25/12 at 4:48 pm to KT70
2% AGI
Posted on 11/25/12 at 4:59 pm to yellowfin
I file a schedule C and am pretty aggressive about it. Never had any problems. If you are an employee I really don't know how you do it. But I know this, the IRS will jail you for hiding income. They will barely slap your wrist for exaggerating expenses.
Posted on 11/25/12 at 5:01 pm to KT70
Get your employer to pay for it, or at least a portion of it, explain how you need it for all of the after hours calls you get at home
Posted on 11/25/12 at 6:15 pm to yellowfin
I believe this is correct. Your un reimbursed expenses have to equal at least 2% of your AGI
Posted on 11/25/12 at 7:49 pm to ashy larry
quote:
Your un reimbursed expenses have to equal at least 2% of your AGI
Your employee business expenses have to EXCEED 2% of your AGI because they are included in the 2% miscellaneous deductions category on the Schedule A. Even then, only these business expenses that are in excess of 2% of your AGI are deductible. But they are not deductible unless all of your Schedule A deductions exceed your standard deduction for your particular filing status. Your employee business deductions by themselves may be enough to exceed your standard deduction and enable you to itemize. For most taxpayers this is hardly ever the case, though. They need the other deductions to itemize: medical expenses, home mortgage interest, sales tax or state income tax, charitable contributions, etc.
Posted on 11/25/12 at 9:24 pm to KT70
You should talk to your employer about providing you with an appropriate computer, and properly licensed versions of all the software necessary to do your job from wherever you happen to be located. If the system crashes, and you used your personal equipment and software for maintenance, you may be opening yourself to liabilities for any losses. I don't think that is worth being able to deduct the cost of a laptop.
Posted on 11/25/12 at 9:29 pm to Poodlebrain
Very good advice. Hadn't considered that angle.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News