Depreciation: over 3 or 5 years?
March 25, 2006 6:53 PM Subscribe
What is the benefit, if any, of depreciating a piece of expensive camera gear over 3 years instead of 5?
posted by photoslob to Work & Money (7 answers total)
As a professional photographer I buy (and eventually sell) a lot of camera gear. The digital cameras I buy are always extremely expensive and are essentially obsolete in 2 or 3 years. My accountant has always been resistant to allowing me to depreciate these cameras over 3 years and always does it over 5. Wouldn't it make more sense to depreciate over 3 years and wouldn't I benefit from doing this? By depreciating several items over 3 years would I make myself an audit target?