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PC vs. PLLC?
Main Post:
I run a law practice as a sole proprietorship, and it was advised to me that I was wasting money by not incorporating, so I will be incorporating shortly, and am trying to decide between PC or PLLC - either way I'll be filing as an S-Corp but I can't tell if there's any real difference between the two other than PLLC is more expensive per year as far as I can tell. Any thoughts or suggestions? Thanks!
Edit: I'm in New York
Top Comment:
All of the differences depend on your state's laws, and don't have anything to do with federal taxes.
Can I claim a new computer on tax every year?
Main Post:
Or can I only claim a new computer once every 4 years (waiting out the full depreciation of my computer hardware)?
Top Comment: Can you justify it for work expenses? Generally you can only deduct the proportion you use for work over a depriecafon schedule.
What are the import tax fees for getting pc components from EU or UK
Main Post:
i'm trying to obtain a monitor and some computer parts and on most stores they "include import fees/taxes" but on a few sites it doesn't seem to include that. Can I get a monitor without paying import taxes if it is delivered from a EU country or the UK?
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Deducting an expensive computer on tax
Main Post:
I am employed as a real estate agent, but I do alot of video design and editing. I am planning to build a new powerful PC to replace my outdated one to speed up the process. Total cost around $5,500.
I know I can only claim the depreciation for the life of the computer. Is that a one time write off or is that spans over the 4 year life span?
Another thing is that I'm building it from scratch (buying individual parts but on one invoice and putting it together)
I'd be claiming about 80% for work. Going off the ATO depreciation calculator I'd be able to claim quite a large portion, so I guess I'm sceptical since some of the parts might be overkill but does it matter as long as it is legitimately used for work?
Top Comment: Desktop computers are depreciated over 4 years. You can claim depreciation on your computer over several years, not just the first. There are two methods for calculating depreciation (diminishing value and prime cost). Diminishing value gives you the biggest deduction in the first year and then less each year. Prime cost is the same amount each year. Prime cost means you can claim 25% each year for four years (or until you stop using it for work). Diminishing value will go for longer than four years but the amount diminishes over time to the point where the deduction is quite small. Diminishing value is the most common due to it giving you the highest deduction at the beginning, especially for things like computers that lose their value quickly. The cost is the total of all the parts added together. Purchase date is the date it is finished and ready to use. It doesn’t matter at all how much it costs or whether it’s overkill. Only that you can prove you spent the money and that it is used for work. Keep all receipts. And something to show how you determined the work-use percentage. The higher that percentage, the more you might have to justify it if the ATO asks.
Tax Heaven 3000 announced for PC – free-to-play romance visual novel that does your taxes
Main Post: Tax Heaven 3000 announced for PC – free-to-play romance visual novel that does your taxes
Top Comment: MSCHF is the art collective behind this and they're the real deal . This is highly likely to be legitimate - and the fact that they lampshade the SSN in the promotional material shows they know exactly how ridiculous what they're doing is. If they know what they're doing and don't want to be liable for "handling" personal information, this is very likely to function as offline tax preparation software. Basically a glorified spreadsheet tool that gives you a PDF for you to print and mail in. If you don't trust it you could wait for someone to test it in an offline sandbox - or punch in a fake SSN and white it out after printing! But really, you trust Intuit more than you trust the red boots guys ? That might be the question they're asking here.
Turnip Boy Commits Tax Evasion is now ready to play on PC
Main Post: Turnip Boy Commits Tax Evasion is now ready to play on PC
Top Comment: This title was a ride and it took me a moment to understand it.
Article from 2009: Modern Warfare 2 gets console tax: now costs $60 on PC
Main Post: Article from 2009: Modern Warfare 2 gets console tax: now costs $60 on PC
Top Comment: It looks like OP posted an AMP link. These should load faster, but AMP is controversial because of concerns over privacy and the Open Web . Maybe check out the canonical page instead: https://arstechnica.com/gaming/2009/08/modern-warfare-2-gets-console-tax-now-costs-60-on-pc/ I'm a bot | Why & About | Summon: u/AmputatorBot
Fanatical is having a PC sale beginning March 6
Main Post: Fanatical is having a PC sale beginning March 6
Top Comment:
Ok so like thousands of mystery keys that turn out to be games you never knew you didn't want?
Update on the Artesian Builds controversy - their business license has been suspended/forfeited because of tax fraud, possibly since as early as last April
Main Post: Update on the Artesian Builds controversy - their business license has been suspended/forfeited because of tax fraud, possibly since as early as last April
Top Comment:
Don't forget to use Offer Code "Woolieversus" to get up to 500 days off your prison sentence.