Self Employed Clients this Accounting Web Article is for you. Remember when you are capitalizing (for depreciation) your business equipment, computer equipment and vehicles – if you are not using that item 100% for your business, you need to prorate the business use %.
Tax Court Rules on Home Computer Deductions
As many taxpayers continue to work from home, use of home computers for business activities are more commonplace. In a new Tax Court case, Coleman TC Memo 2020-146, 10/22/20, a taxpayer was denied a deduction for a home computer under prior law.