For anyone unfamiliar with the issue or needing a reboot, the feds and 25 or so states recognize special depreciation where you can express depreciate things, unfortuantely I'm in a state that is not business friendly. I need to keep my income reasonable high for loans so I don't want to expense everything. What tax strategies are at the table here?
In the past I like to depreciate as much as I can in Schedule E instead of expensing things, so that my income stays strong for loans and financing.
I'm thinking I have a few options but please help!
-Expensing more in schedule E instead of depreciating
-Moving things over to schedule C... what options does this give me? If I move things to schedule C, am I left with the same financing challenges if I over-expense things instead of depreciate things?
