Posts Tagged ‘benefits of tax write off if no income’

Do You Get Money Back for a Tax Write Off?

Ok, I’ve been getting some mixed answers about tax write off so please help. Say, for example, that I run a business out of my office in my home and I need to purchase a computer. When I write this computer off as equipment needed to run my business:

computer-tax-writeoff

  • will the money be refunded back with taxes? or
  • will the computer be non taxed if it exceeds my business income for that year?

Basically, with the computer and no income to the business it becomes a loss, so will it do me no good to write it off.