Email Contact Us

Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

Does the IRS allow any deductions for leased software equipment?

I am thinking about leasing versus purchasing the software.
Tax Software
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
William Keats
Usually, the cost of leasing equipment for business purposes is fully deductible if 100% business.
However, as far as tax software is concerned, I never heard of anyone leasing it. Purchase the software and depreciate over the useful life of the software. U se 3-year SL depreciation, or take the Sec. 179 deduction.
Leave a Comment 429 weeks ago

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

Contact Us Today