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» From: Seaside, CA Dear TaxMama, We're considering starting a small business to supplement family income. Do I understand the tax code to say that we can deduct the cost of a table saw and jigsaw? These items would be purchased solely for the purpose of our business and are essential to our success. Thank you for your time! Sue Dear Sue, You bet! Depending on how much they cost (I expect about $500 - $1000 each, from my husband's purchases over this last weekend <g>), you will have to follow the depreciation rules. Here are some other suggestions for more information Best wishes Eva Rosenberg Your TaxMama Click Here for TaxMama's Honor System |
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