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I worked until Sept (made 95k) and then became a full-time student. Should I buy a computer to reduce my taxable W2 2016 income? Or wait until 2017 (I'll earn much less)?

Thanks. I have been self-employed in the past and did make a very small amount this year - $700 but the computer would be $3k. I do itemize deductions every year and have taken them against my W2 in the past. (under the advise of tax accountants)

I worked until Sept (made 95k) and then became a full-time student. Should I buy a computer to reduce my taxable W2 2016 income? Or wait until 2017 (I'll earn much less)?

School is related to what I was doing professionally and is a way for me to develop my skills in my area. The computer will be for 75% for school and 25% for freelance work in 2017.

I worked until Sept (made 95k) and then became a full-time student. Should I buy a computer to reduce my taxable W2 2016 income? Or wait until 2017 (I'll earn much less)?

If you buy it in 2017, 25% could be depreciated on Schedule C, and 75% may be added to your potential school expenses.

I worked until Sept (made 95k) and then became a full-time student. Should I buy a computer to reduce my taxable W2 2016 income? Or wait until 2017 (I'll earn much less)?

Thanks TaxGuyBill! Happy New Year!

I worked until Sept (made 95k) and then became a full-time student. Should I buy a computer to reduce my taxable W2 2016 income? Or wait until 2017 (I'll earn much less)?

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