Question by Eighty8: How would you ammortize business reception room furniture?
If a business renovates their reception room and buys ,200 of all new chairs, lamps, etc., how is this deducted? Is it deducted in total or ammortized? If it is ammortized as 179, is it 5 year or 7 year? How would that be calculated?
Best answer:
Answer by Bob F
You can take a section 179 and deduct the whole thing or as much as you want in the first year, or you can depreciate it over 7 years. How you would calculated the yearly depreciation depends on if you want to or have to use straight line or MACRS. It is a little involved and if you are trying to do this yourself, it might be time to turn to a tax professional.
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