Just an itty bitty dreaded Tax Question.

[silverstatetreasureboxes]

     I purchased a fold up heavy duty wagon on wheels to put all my crates of treasures in for trips to my booth. Can I write this down in supplies when doing my taxes?

     Thanks, Silver

[wastingtime101 · Accepted solution]

Yes you can.

[silverstatetreasureboxes]

@wastingtime101 

Perfect! Thanks wasting!

[mtgraves7984]

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@silverstatetreasureboxes wrote:

     I purchased a fold up heavy duty wagon on wheels to put all my crates of treasures in for trips to my booth. Can I write this down in supplies when doing my taxes?

     Thanks, Silver

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@silverstatetreasureboxes 

Sure! Heck, you can even load it with year-end paperwork and roll it right into H&R Block's office come tax time. 😉

[silverstatetreasureboxes]

@mtgraves7984 

Lol! Would you believe my tax accountant is 94 yrs old! And I pay him with a cash out ticket from the casino! Hey, it's Nevada that's how we roll!

[buyselljack2016]

@silverstatetreasureboxes don't let me catch you hauling bunnies or flower pots around the yard with that cart on a regular basis 🤣🤣

[silverstatetreasureboxes]

@buyselljack2016 

Yard???? Jack remember where I live, ain't no yards to speak of, lol. Speaking of bunnies, haven't seen mine in two days.

[wastingtime101]

Of course you have a yard. It's that bit of astroturf that weathers your insane 750* summer days 10 months of the year. The bunny is hiding under the shed so the sun doesn't cook him.

[dbfolks166mt]

     Sure, why not. You can probably also deduct the cost of the horse(s) you use to pull the wagon and the food and other expenses related to caring for the animals. 😄

[stephenmorgan]

 

Are you going to take the full deduction as allowed in Section 179 to get an immediate break on your tax burden or will you be capitalizing and then depreciating the asset over a longer period of time. 

[dbfolks166mt]

Are you going to take the full deduction as allowed in Section 179 to get an immediate break on your tax burden or will you be capitalizing and then depreciating the asset over a longer period of time. 

     If depreciating what type straight line, double declining balance, sum of years digits? 

[farmalljr]

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@silverstatetreasureboxes wrote:

     I purchased a fold up heavy duty wagon on wheels to put all my crates of treasures in for trips to my booth. Can I write this down in supplies when doing my taxes?

     Thanks, Silver

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It's not in the supplies category, it's equipment. It's classified like a printer, computer, bench, etc. 

[silverstatetreasureboxes]

@farmalljr 

Thank you for that reply, I will put it under that.

[buyselljack2016]

@silverstatetreasureboxes 

Not a jack yard, or  policequilts yard, but............  be as it may.............. it's a yard between the house/patio/she shed 😂

Maybe we should call it feet instead of yard 🤣

[silverstatetreasureboxes]

@buyselljack2016 

Lol! No it's not a yard like you guys have, it's a subdivision yard but it's not too small as I have 3 sheds on the property and alot of faux grass! 

     You guys are all teasing me with my cute wagon, it's really meaty. ( OK, I just set myself up for that one!)