Posted By: JT Trapper
Trap Depreciation - 03/08/21 03:17 PM
Hey guys,
Was wondering how you established ADC business owners handle depreciation of traps.
For business tax purposes do you treat your traps as capital assets or do you treat them as a business expense? If you treat them as a capital asset, how do you handle the depreciation? Do you depreciate them over time and if so how many years? or do you write them off as section 179 asset (depreciable assets full value taken in the first year). I've search the web and find no guidance and I'm trying to determine the standard in our industry.
Thanks,
JT
Was wondering how you established ADC business owners handle depreciation of traps.
For business tax purposes do you treat your traps as capital assets or do you treat them as a business expense? If you treat them as a capital asset, how do you handle the depreciation? Do you depreciate them over time and if so how many years? or do you write them off as section 179 asset (depreciable assets full value taken in the first year). I've search the web and find no guidance and I'm trying to determine the standard in our industry.
Thanks,
JT