Grape Ape Mom 06:46 PM 03-04-2014
This is my first year doing my own daycare taxes. I always did my own taxes before daycare, and I love accounting!
I bought Tom's book to make sure I was doing it all correctly because depreciation is the main thing I was unclear on and the main reason I wanted a CPA to do my taxes.
I see that he has a lawn mower and cell phone listed as 39 year SL/MM items.
Utility room cabinets (installed w/ countertop) and new a/c unit are listed as a 7 year 200DB/HY item.
Is this something I should bother filing three amended returns for?
April in TX
TomCopeland 07:32 AM 03-05-2014
Originally Posted by Grape Ape Mom:
This is my first year doing my own daycare taxes. I always did my own taxes before daycare, and I love accounting!
I bought Tom's book to make sure I was doing it all correctly because depreciation is the main thing I was unclear on and the main reason I wanted a CPA to do my taxes.
I see that he has a lawn mower and cell phone listed as 39 year SL/MM items.
Utility room cabinets (installed w/ countertop) and new a/c unit are listed as a 7 year 200DB/HY item.
Is this something I should bother filing three amended returns for?
April in TX
The lawn mower and cell phone should be depreciated over 7 years 200% Declining /balance. The cabinets and a/c unit are correct. You would probably gain less than $10 a year if you amended the lawn mower and cell phone.