Antiques and How to use them as Business Assets
Here’s a good business rule to follow: buy low and sell high.
This business rule is even better:
- Buy low.
- Depreciate to zero.
- Sell high.
I know there is that scary and confusing word depreciation. Let’s try to simplify it, or at least create a way to skip it. (Enter smiley face here)
Antiques are your answer! If you can buy an antique that will function in your business just as well as a new purchase, take the antique that might increase in value. It simply adds to your net worth. (Whoo-hoo! Good buy)
How many business assets have you bought and used in your business that have gone up in value? Let’s face it the moment you take that brand spanking new computer out of the box, there is probably a new, better, faster model already out there.
If you are like most businesspeople, the answer to this question is “none” or “very few.” In fact, you may not have considered antiques at all.
But now that you know their business potential, give antiques a serious look. With antiques, you can get the best of all worlds:
- Beautiful assets you use in your business,
- Assets you can depreciate and/or Section 179 expense against your business income, and
- Assets that can increase in value.
If you were to buy antiques for your business today, you could expense up to $500,000 of qualifying costs using Section 179 expensing.
We are closing in on the end of the year. Are you looking for some last-minute deductions? Consider antiques!
For more information, this article and many more to help your business grow are on our website cdprofessionalservices.com