13 March 202004:52 PM - edited 13 March 202004:53 PM
So my wife just started a side business and we really want to buy our own laser machine (less than 10k) however we haven't had the money to do it. With this instant tax write off thing, that doesn't affect us until tax time does it where we can claim 100% of the machine for business use? Correct? What about if we could get on finance or something, how does it work then?
Also say the machine costs us 8k, come tax time does she get to claim that full 8k back or is it like 30c to the dollar she can get back from it? Or do I just have no clue what I'm on about 😂
Thanks! Sorry for the dumb questions, this is new to both of us!