Tools and Taxes... fun fun

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Ixj159

Copper - Posts: 68

Joined: March 07, 2003

Location: United States

Posted: October 05, 2003 at 8:23 PM / IP Logged

Hi, I purchases many tools this year working as an installer and I was wondering if you guys write your tools off, and if so how do you guys go about doing it? I heard many different takes on this. I heard you have to buy like $5000 in tools to make it worth your while. What form do you use. I've probably spent almost $1700-2000 and I've saved all my receipts. Any feedback would be appreciated.

Thanks, Eric

auex

Platinum - Posts: 5,041

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Joined: December 23, 2002

Location: Arizona, United States

Posted: October 05, 2003 at 8:55 PM / IP Logged

You have to be over your standardized deductions. I spent almost 5000 on tools my first year installing and I didn't hit it.

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Tools and Taxes... fun fun

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