Posted by Rick Denney on February 16, 2003 at 16:03:08:
In Reply to: Re: Re: A taxing question posted by Marty - to clarify on February 16, 2003 at 05:54:56:
Supplies are those things that are consumed with use. Valve oil is about the only thing that falls into that category.
But capital items that do not have a long life, and even some that do if they are cheap enough, can be depreciated entirely in their first year. Last I did it was at least half a dozen years ago, but at that time (and maybe now) it was called Section 179 expenses.
Rick "who hasn't had stuff like that to deduct in a long time" Denney