Article Date:
July 2012


Word Count:
975

 

 

Does Section 179 Allow a Tax Deduction for a Paperweight Made of Gold?


Question

 

About eight weeks ago, I bought your tax course and have gone through all the tapes once fully and most a second time. I really enjoy them. They have improved my concept of business greatly.

 

I am in the medical business, incorporated with an S election, and have a very high earned income.

 

I am looking to take advantage of the Section 179 deduction. I was impressed with your tape on buying antiques and using them in business. My hypothetical question: If I purchased a 24-karat, five-pound ingot of gold and had it cast into a paperweight that ... Log in to view full article.

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