Quote:
Originally Posted by jamesqf
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.
|
I actually shook my head when I read this. I did not mean without exactly a 2012, Ford Mustang, I would not be here. Most vehicles would do just fine. I don't think a bicycle, or scooter would have helped much in moving over two hours away, or when I had to commute 3 hours a day for a few weeks, or when I was hauling 900 lbs of bricks over 112 miles. I would still prefer a sport oriented car, even if it wasn't a Mustang- as I have no need for a truck, people mover, and clearly they are easy to pull good numbers from.
So like food, you consume electricity...but if you are using electricity for business, can it not be written off? Some solar panels and batteries can't be written off? I don't work at home, and file simple taxes.
I guess I invest in electricity when I am messing with my stocks or a website of mine, never really thought of it that way. Good point!
