Quote:
Originally Posted by UltArc
I agree that the idea of buying a car now in the idea it will appreciate faster than inflation is not very good, but ifI didn't have my Mustang, I couldn't have moved up from hourly to salary and doubled my income, do my side work, or work to be fully employed in another field.
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Seriously? You think you couldn't have done all that without your Mustang specifically? You couldn't have bought a 20 year old Civic or Metro, ridden a bike or scooter, etc? I'm very curious about why.
Or to take something similar, I can't do my work without a computer, so I buy them from time to time. Are they investments? Well, I don't expect anyone to pay me for couple of old 586 towers, or even the old ThinkPad or Dell notebook that are sitting in the closet. (Heck, I probably couldn't get more than a few bucks for the T61 ThinkPad I'm using now.) So they're not investments, they're business expenses - and get deducted as such on Schedule C, rather than on Schedule D.
Or to go a little further, I need electricity to run them, and reasonable internet access for work, and I get monthly bills for those. When I pay the bills, am I investing? No, I'm consuming.