legomom922
02-09-2011, 04:40 AM
So, since I am almost out of business, if I bought something new in 2010, I know I depreciate it by 50% in the first yr and then the remaining over 7 yrs...but what happens when you are no longer in business? Do you still take the depreciation over the 7 yrs? Or am I pretty much done and dont have to do that at all? Or can I write off more of it since I'm almost done with my business?? I guess I'm confused, because how could i continue to write off expenses or in this case claim depreciation when I will no longer be in buisness?
As soon as tis DCG moves on, that swhen I will be done. She is 3, so she will be starting school in 2 yrs or if she leaves before that, whatever happens first.
As soon as tis DCG moves on, that swhen I will be done. She is 3, so she will be starting school in 2 yrs or if she leaves before that, whatever happens first.