Can I deduct computers, cameras and equipment?

Equipment may need capital-cost treatment rather than an immediate expense.

Long-lived equipment normally needs capital-cost classification. Available accelerated or immediate-expensing rules depend on the asset, acquisition date and when it becomes available for use; do not assume every purchase is an ordinary current expense.

Records to keep

• The original bill or document, with date and amount.
• A note of the business purpose and any allocation calculation.

A common mistake

A category label alone does not establish eligibility. Review the facts before claiming.