Is my laptop tax deductible?

Question

I am starting my own web design business from my home in NM. I need to buy a laptop for the business. Do I have to have a business license to deduct this as a business expense?

Answer 1

yes you can deduct a laptop computer however there are rules that must be followed.  The business license is a local regulation that is not required to make your business legit for income tax purposes.

Answer 2

  If you use your laptop in business, you may deduct depreciation on it, prorated by the percentage of business use.  A business license is issued by the state or local government to allow you to conduct some types of businesses.  It is not necessary to file business tax returns, but the cost of a business license is another business expense deduction.  There are special rules for depreciating computers.  Questions?  e-mail me or contact me through http://members.toast.net/busra17

Answer 3

If you are running a business that is legit, yes you ca deduct your laptop on your taxes as well as any other equipment you need right down to any softwae for the computer, even paper and pens. Save all receipts.