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Updated about 8 years ago,
Purchasing power tools under investment property LLC
Like any good Dutchman I waited until the big box stores had their after thanksgiving sales to buy some much needed power tools for my investment property. I purchased the tools with my investment property LLC credit card and wondered if it is possible and/or favorable to depreciate these assets? I bought a power tool combo set as well as an air compressor set. Any advice is greatly appreciated!
Thanks,
Mark