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Getting my company to buy my equipment...

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    #11
    Originally posted by davisc02
    Why would this have to be treated as personal income as all of the assets I paid for with wages i've already been taxed on?
    the tax liability applies to the difference between purchase price and sale price of the asset. So, if you bought it at 500 and sold it to the company at 750 then the 250 would have to be reported on your personal tax return.

    I was responding to MikeP's point about how the company would have to treat the cost of reconfiguring a computer bought from, e.g. ebay...but, of course, if you sell it to the company at or below the price you paid for it, then it's all a bit academic.
    Plan A is located just about here.
    If that doesn't work, then there's always plan B

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