Looking for an end-of-year tax break that can put big money in your pocket?
Buy antiques you can use in your business.
Why is this a smart move?
Because you can depreciate or even Section 179 expense them. And you can benefit by creating tax-favored, long-term capital gains.
That’s right. You can buy a desk, clock, rug, cabinet, bookcase, paperweight, conference table, chair, umbrella stand, coat rack, library table, antique car, or other asset you can use in your business.
Then, you can turn those purchases into hefty tax deductions. What’s more, your antiques can increase in value and potentially add to your net worth!
Want to find out how to put this perfectly legal strategy to work? Read my new article titled Tax Tips: Create Extra Cash by Using Depreciable Antiques in Your Business!
Three ways our fact-filled article can help you:
- You’ll learn what you have to do to come out a winner. It’s pretty easy. To qualify for tax-favored expensing and depreciation, you have to use your antiques in the normal course of business. You also have to subject your antiques to wear and tear as you do any other asset. We’ll give you all the details when you read the full article.
- We’ll explain why there’s good news when you sell your antiques. The profit, in excess of your purchase price, is a Section 1231 gain (because the asset is used in your business). Assuming no offset from Section 1231 losses, your section 1231 gains on the sale of the antiques (used in your business for over a year) are treated as tax-favored long-term capital gains. You’ll get the whole story when you read the full article.
- We’ll tell you why the “buy antiques” strategy can be so profitable. Antiques typically increase in value. So why buy a boring desk from an office supply store, (an item that will lose its value), when you can own and enjoy a handsome antique desk that will become a valuable asset down the road? All will be explained when you read the full article.