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Daycare and Taxes>Surveilance System
MissAnn 01:57 PM 12-23-2011
This year I purchased 4 camera's and a screen to use inside my be able to see all kids at all times. Do I have to depreciate this? If so, can I use the 2011 100% depreciation? How do I enter that into MMK?
TomCopeland 02:36 PM 12-23-2011
Yes, a surveillance system would be 100% deductible. You can use the Section 179 rule to claim it in 2011 rather than depreciating it. You could also use the 100% bonus depreciation rule to claim it this year, as well. If you plan to go out of business in the next 5 years, use the 100% bonus depreciation rule. If your state does not recognize the 100% bonus rule, use the Section 179 rule.
Enter it under "furniture, appliances" on Minute Menu (because it's considered 7 year property).
Tags:cctv, deduction - security, security system, surveilance, video monitors
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