Think of the routine of a business trip. You expense everything—your airfare, accommodations, meals, and cab fare—to your employer, right? (Right.) As it turns out, you can expense some standard business costs to Uncle Sam, too. Under Section 179 of the Internal Revenue Service code (“Election to expense certain depreciable business assets”), you can file for deductions on electronics purchases that are critical to your business (or, as the government defines it, help you generate income). Self-employed workers might think this law is reserved for enterprises or even SMBs. But in fact, you don’t even need to be registered as a business to take advantage of this tax code. You can even deduct tech purchases that live in your home office. Glenn Eisenbruch, a Long Island–based CPA, walked us through the rules. All you need to get started is the tech equipment you purchased within the past year, and each one’s use for business purposes. “As long as it is used in a trade or business, it would qualify,” Eisenbruch said. Do You Qualify?
Filing Your Taxes