AccountingBLOCK - Accounting Forums - View Single Post

Charly · 04-07-2008, 05:16 PM

The company is theoretically entitled to 100% of the tax benefits relating to purchase of the computer, whether it be section 179 deduction or depreciation.
The benefit received by the officer for his personal use should be reviewed for possible inclusion on a 1099 or W-2 as additional compensation, in much the same way as personal use of a business automobile.

04-07-2008, 05:16 PM	#2 (permalink)
Charly Status: Getting feet wet Join Date: Mar 2008 Posts: 34	The company is theoretically entitled to 100% of the tax benefits relating to purchase of the computer, whether it be section 179 deduction or depreciation. The benefit received by the officer for his personal use should be reviewed for possible inclusion on a 1099 or W-2 as additional compensation, in much the same way as personal use of a business automobile.