Since I bought this thing to try and create a small income out of my garage, I was thinking of categorizing it + tooling and the bench I built as a equipment purchase and depreciating it on my taxes. Has anyone done this? Any tips?
shelbycharged (Andrew Pell) #1
stkober (Scott Kober) #2
Better check with a CPA because it would be terrible if an audit took place and you were using depreciation when it was not generating a consistent income.