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Section 179 Flattery?
Q:
Subject: plagarism
Kerry,
Dont know if this concerns you or not but it looks like your site is being plagarized word for word here:
http://www.groco.com/readingroom/sec179_businessequipment.aspx
Anyway I was sending you this email cause I wanted to know if you could provide me a site to prove that section 179 can apply to used items as long as they are "new to you." Look at the code and regs and cannot seem to find anything. Thanks.
A:
Since I created that page on Section 179 from scratch, with the occasional update for new developments, I am flattered that other tax pros want to use it. I am aware of others on the web who have made use of my info, but they generally give me credit as the author. Obviously, not everyone has the same good manners. This copy that you found was obviously made several months ago because it doesn't include some of the updates I have made to my page.
In regard to the issue of whether used equipment can be expensed under Section 179, I guess the fact that I have been claiming that on thousands of clients tax returns since Section 179 was born, with zero problems from IRS, isn't adequate substantiation for you.
Oftentimes in interpreting laws, it isn't whether every single item allowed is spelled out; but whether or not something is specifically designated as not being allowable.
If you check IRS Publication 946 under the Eligible Property heading, you will not see one mention of any requirement that it be brand new or that the taxpayer be the first owner.
Similarly, under the heading "Excepted Property" nowhere does it include any mention of an item that is not brand new.
From QuickFinder Online:
"It must have been acquired by purchase from an unrelated party."
There is no mention anywhere of any requirement that the asset be brand new.
A similar review of the Section 179 discussion in The TaxBook reveals not a single mention of a requirement that the asset be brand new.
Good luck. I hope this helps.
Kerry Kerstetter
Labels: 179
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 2/15/2007 10:58:00 PM Send this post:
