Originally Posted by tn0087:
A couple more questions on this if you have a second.
1. Can we deduct the cost of hiring movers to move us from our old home to the new home? If so, what time/space would we use? Can we use the previous daycare's rate since we aren't established as the new daycare officially in the same tax year?
2. We purchased new appliances for the move. We did use them at the old house briefly. I plan to write those off, but the refrigerator is just over $2500. Can we wait to depreciate that in 2016? Or do we start depreciating in 2015 using that time/space and then also charge ourselves back that depreciation as income on the same return?
Thank you!
You can only deduct the cost of moving if the primary purpose of the move was for your business and the move was at least 50 miles.Since you started using the refrigerator in your business in 2015, depreciate it starting in 2015 using your time-space%. I don't understand what you mean by charging yourselves back the depreciation. Please clarify.