From chemistry-request@ccl.net Fri Aug 14 02:07:45 1992 Date: 13 Aug 1992 21:23:20 -0400 (EDT) From: spollack%ester.mse.uc.EDU@OHSTVMA.ACS.OHIO-STATE.EDU (S.K. Pollack) Subject: Personal Computers, Consulting and Taxes. To: chemistry@ccl.net Status: R This may or may not be a reasonable question, but since I know a number of the faculty types on this board consult from time to time, I thought I might pose a Tax question. I know full well that it is very(!!!) hard to justify a home computer as a business cost as a professor, as the tax laws say that if the only reason it exists is for your convenience, it ain't deductable. Let us say, just for arguments sake, that in the summer or your off time, you perform some consulting and are payed for that work. Can you buy a computer (in this hypothetical case a portable to take to and from the consulting work) and write it off (using some appropriate depreciation schedule, probably over three years) as a busines expense? This hypothetical case supposes that you do not currently pay estimated tax, but crank up your normal deductions at your college to get a correct payment by the years end? I am not trying to trick the government, bless their little hearts and points of light, just what is in the realm of possible and ethical. You may post or mail to me if you feel that this is the wrong forum for this exchange. -- _______________________________________________________________________ Steven K. Pollack | University of Cincinnati | Department of Materials Science | I notice that you are still & Engineering | using polymers! 498 Rhodes Hall ML#12 | - Lt. Commander Montgomery Scott Cincinnati, OH 45221-0012 | U.S.S. Enterprise spollack@ester.mse.uc.edu | ________________________________________________________________________ --- Administrivia: This message is automatically appended by the mail exploder. CHEMISTRY@ccl.net --- everybody; CHEMISTRY-REQUEST@ccl.net --- coordinator only OSCPOST@ccl.net : send something from chemistry; FTP: www.ccl.net ---