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Tag Archives: Fixed asset

*Tax Quips, Basis, Capital Assets, Depreciation, Section 179

Timing of Purchase

Posted on February 8, 2012February 8, 2012 by TaxMama

Today TaxMama® hears from Insha in the TaxQuips Forum with this question. “I run a daycare center in my home. I file a Schedule C on the cash basis. In February 2011, I bought an asset for my business that cost $2,000. I’m making payments of $100 per month on it. So, on my 2011 […]

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Posted in *Tax Quips, Basis, Capital Assets, Depreciation, Section 179  |  Tagged *Tax Quips, asset. depreciation, Basis, Business/Finance, Credit Card, Day care, daycare, Depreciation, Depreciation recapture, fiscal follies, Fixed asset, Free, Generally Accepted Accounting Principles, Internal Revenue Service, IRS News, jokes, Loan, Money Funnies, National accounts, Purchase, Sec 179, section 179, tax answers, tax humor, Tax Information, tax jokes, tax podcast, tax questions, tax tips, tax writer, Taxation in the United States, TaxMama, terrific, timing, USD Leave a comment
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