Terry VerHaar
Well-known member
What Greg said. All I know is if the money is in my RED account instead of my bank account then that's a PP&E expense that comes off my bottom line, which means I'm not paying taxes on it. Depreciation expense would be separate from that.
Yeah, what Greg said.
Edit: Also what Jarred said![]()
Not to be argumentative, or get bogged down in the tax discussion, but I would get straight on this before you make too many assumptions. No matter where the money is, the tax code gives you certain limited options, expensing and depreciation are not an additive function for this type of equipment (i.e you don't get to do both). Buying camera equipment with a multi-year life is not an "expense" like renting a light kit. Sometimes assets (like a camera or modules) can be treated with accelerated depreciation, effectively "expensing" them in a particular period, but it is still an issue of placing it in service.
OK - so I am not an accountant but I'd join the chorus of those suggesting you confer with one when developing your strategy along these lines. :thumbup1:
Now if they'd just get all this stuff in the store in plenty of time to put it in service this year... :smile5: