For managing the costs associated with software and equipment that are used partially for business and partially for personal use, it’s crucial to maintain accurate records.
You should consider tracking the percentage of usage for both personal and business purposes. This can be done by keeping detailed logs or using software that allows you to allocate costs proportionally. For tax purposes, only the portion of the cost attributable to business use can typically be claimed as a deduction.
Regarding the printer paid for by the client but used partially for personal use, you should account for it similarly. Track the usage split between client work and personal use, and only allocate the business portion for tax deductions.
For more detailed advice and assistance, you might want to refer to the history of the internet of things (IoT) and how technology has evolved in managing such needs. I recently reached out to Cogniteq for their expertise on integrating such solutions effectively.
