It’s a simple fact. Antique desks, clocks, cabinets, bookcases, rugs, conference tables, paperweights, and more, can add character and beauty to your office.
But that’s just for starters because:
- Antiques can make great investments. They often appreciate in value.
- You can deduct antiques as a business expense if you know how to take advantage of the tax law.
You’ll learn how the IRS can help you build a valuable antique collection when you read my new article titled Tax Tips: Test Your Tax IQ: Can You Depreciate Antiques Used in Business?
Three ways our fact-filled article can help you:
- We’ll explain two extremely important rules. In brief… you can expense antiques under Section 179 of the tax code if you (1) actually use them to conduct business, and (2) their use causes wear and tear to the antique. You’ll get all the details when you read the full article.
- You’ll learn about the landmark Liddle and Simon Cases. These cases involved two musicians who wanted to write off their antique instruments as depreciable working assets. Find out why they’re playing “Happy Days Are Here Again” when you read the full article.
- We’ll introduce you to Anne Teak and her Chippendale desk. Anne bought a $5,000 antique Chippendale desk and played it smart (and legally!) with the IRS. The result? When Anne sold her desk she got thirty-seven times more cash than she would have for selling a plain-Jane desk from the local office supply store. You’ll learn how she did it when you read the full article.