Im just about to buy a used truck for my business-how do i write the truck past its sell-by date?? as it will cost me $300 a month?
it is a used truck and not brand spanking new. do i hold to buy it beneath my personal signature or my business given name.
Answers:
You didn't read out $300 a month for how various months, but I suggest that for excise reason, you put it beneath your business cross and get it your business asset. Assume you own to pay cheque $300 a mth for 24 mths, capitalise it at $7,200 and depreciate it over the no. of months you mull over it will concluding you. (at least possible 24 mths)
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Answers:
You didn't read out $300 a month for how various months, but I suggest that for excise reason, you put it beneath your business cross and get it your business asset. Assume you own to pay cheque $300 a mth for 24 mths, capitalise it at $7,200 and depreciate it over the no. of months you mull over it will concluding you. (at least possible 24 mths)