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Rig write off & self employment
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geekcryptogal
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Rig write off & self employment
January 21, 2018, 06:19:59 PM
#1
Can I use the entire cost of the rig ($3600) as a tax deduction in one single year?
E.g. say I make $8000 income from mining .. does the taxable income then become $8000 - $3600 - electricity costs?
Or must I deprecate the cost of the rig over multiple years?
I rather get the full tax deduction this year I'd think.
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Re: Rig write off & self employment
January 21, 2018, 06:24:09 PM
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I would think you could do it either way, but I would consult with a CPA.
Ok, I want you to walk back in there and very calmly, very politely tell the risk assessors to fuck off! -Mark Baum
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Re: Rig write off & self employment
January 21, 2018, 07:28:22 PM
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Seems either case would be fair since governments appear to now want a cut, i.e., to tax; definitely consult with a tax professional to see which option may be best for you.
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