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stevenf
09-29-2010, 06:11 PM
I am going to get a job soon to pay off my business equipment. This time of year I have nearly NO business so all of my income will be from my job. What is the best way to handle this for taxes? How can you writeoff the equipment as a business expense if I am paying it off with a paycheck from another job?

JB1
09-29-2010, 10:33 PM
how is your business set up.

stevenf
09-30-2010, 12:15 AM
LLC. My guess is that I continue to pay bills with my new job and use the full amount as a writeoff even though my business has no income at the time. This would be considered a business loss which is still 100% deductable. Which means I will be getting a nice return next year from all of my quarterly paid taxes for 2010.

Southern Elegance
10-01-2010, 06:53 PM
consult a cpa.. well worth the money...