Built own computer for my business. How do I deduct as expense? Also state use tax?
What is the name of your state?NY
Hi, Along with my regualr employment, I run a part time home based pro video sales business. In Dec. of 2004 I purchased computer parts to build my own system which is being used 100% exclusively for the business.
I have two questions:
1:Where under business expenses do I put these parts? If under Sec 179 do I have to list each part I purchased separately or can I add them up and simply call it "computer"?
2:I purchased most of the parts online and did not pay sales tax. Since I live in NY, I am required to pay/report sales/use tax(8.25%) for out of state purchases on my state return. The sales tax that I owe the state for the PC parts only amounts to around $60, but it is a sales tax on a purchase made for the business therefor it would be considered a business expense. So where on my federal/state returns would I deduct the $60 as a business expense?
Thanks in advance for your time!
What is the name of your state?NY
Hi, Along with my regualr employment, I run a part time home based pro video sales business. In Dec. of 2004 I purchased computer parts to build my own system which is being used 100% exclusively for the business.
I have two questions:
1:Where under business expenses do I put these parts? If under Sec 179 do I have to list each part I purchased separately or can I add them up and simply call it "computer"?
2:I purchased most of the parts online and did not pay sales tax. Since I live in NY, I am required to pay/report sales/use tax(8.25%) for out of state purchases on my state return. The sales tax that I owe the state for the PC parts only amounts to around $60, but it is a sales tax on a purchase made for the business therefor it would be considered a business expense. So where on my federal/state returns would I deduct the $60 as a business expense?
Thanks in advance for your time!
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