Discussion:Life to depr Lojack purchase system

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(a lo-jack system)
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{{ForumReplyPost|UserID=RoyDaleOne|Date=10 June 2009|Text=Any specialized equipment mounted on or attached to the vehicle that is not part of the body and which performs no function in the operation or maintenance of the vehicle, or any special equipment mounted on the vehicle that has a function separate from the operations of the vehicle is not an accessory.}} {{ForumReplyPost|UserID=RoyDaleOne|Date=10 June 2009|Text=Any specialized equipment mounted on or attached to the vehicle that is not part of the body and which performs no function in the operation or maintenance of the vehicle, or any special equipment mounted on the vehicle that has a function separate from the operations of the vehicle is not an accessory.}}
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 +{{ForumReplyPost|UserID=Taxea|Date=25 June 2009|Text=a lo-jack system performs a maintenance function of possibly preventing the vehicle from being stolen and several function as an interruptor to the operation of the vehicle.}}

Current revision

Discussion Forum Index --> Basic Tax Questions --> Life to depr Lojack purchase system
Discussion Forum Index --> Tax Questions --> Life to depr Lojack purchase system

CPA lgm (talk|edits) said:

8 June 2009
Client purchased a Lojack system for $1,500 - what would you recommend to depreciate it under? I'm thinking that auto tables.

Any advise?

RoyDaleOne (talk|edits) said:

8 June 2009
In what line of business is the client?

RoyDaleOne (talk|edits) said:

8 June 2009
I would not use the auto tables.

CPA lgm (talk|edits) said:

8 June 2009
TP owns three restaurants and the vehicle is 100% the businesses

RoyDaleOne (talk|edits) said:

8 June 2009
I would use asset class life 57.0.

I would not consider Lojack as a permanent additional to the vehicle, because it will be transfer to a different vehicle when the current vehicle is retired.

Kevinh5 (talk|edits) said:

8 June 2009
and I would recommomend he keep the auto off of his restaurant tables also.

greasy food doesn't mix well with motor oil

Kevinh5 (talk|edits) said:

8 June 2009
OH, he wrote 'auto tables' not 'restaurant tables'


So this is a drive in? I remember going to the A&W for root beer and hot dogs with my grandmother when I was a child. They brought a tray to the car which sat on your window. But I wouldn't call that an 'auto table'.

CPA lgm (talk|edits) said:

8 June 2009
Thank you! The restaurant tables are clean :)

CPA lgm (talk|edits) said:

8 June 2009
Thank you! The restaurant tables are clean :)

Taxea (talk|edits) said:

10 June 2009
Seriously, a lo-jack is a car accessory I would go for 5 years of depreciation.

RoyDaleOne (talk|edits) said:

10 June 2009
Any specialized equipment mounted on or attached to the vehicle that is not part of the body and which performs no function in the operation or maintenance of the vehicle, or any special equipment mounted on the vehicle that has a function separate from the operations of the vehicle is not an accessory.

Taxea (talk|edits) said:

25 June 2009
a lo-jack system performs a maintenance function of possibly preventing the vehicle from being stolen and several function as an interruptor to the operation of the vehicle.
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