Posted by Urbie Watrous on January 27, 2004 at 17:52:59:
In Reply to: Re: Re: Re: Writing off a new horn posted by Rick Denney on January 27, 2004 at 17:38:39:
I understand your logic, Rick -- by my accounting prof. told me, "Hey, if the IRS lets me depreciate a horn, I'd depreciate it. That's money in my pocket right now. If I sell the horn a few years from now, sure, I'll have to pay tax on the amount I depreciated -- but I'll have had that money in the bank the whole time. And who knows if I'm ever going to sell the horn anyway? If you can take the writeoff, take the writeoff!"
Urb