The No.1 Website for Pro Audio
 Search This Thread  Search This Forum  Search Reviews  Search Gear Database  Search Gear for sale  Search Gearslutz Go Advanced
gear depreciation
Old 25th July 2007
  #1
Gear nut
 
daeve's Avatar
 

Thread Starter
gear depreciation

hi guys! i need to get estimates value for my gear and i was wondering how you go about calculation depreciation?

thanks

dave
Old 25th July 2007
  #2
Lives for gear
 
Rick Sutton's Avatar
 

5 year depreciation.
year #1....15%
year#2...... 21%
year #3......21%
year #4......21%
year #5......the remaining balance
Old 25th July 2007
  #3
Gear Maniac
 

unless it's vintage gear in which case it could go up depending on what it is
Old 26th July 2007
  #4


You still can amortize it that way. But if you sell it, you have to declare the proceeds as income.



-tINY

Old 26th July 2007
  #5
Lives for gear
 
Rick Sutton's Avatar
 

In my earlier reply I laid out 5 year depreciation as used for tax purposes but if you are trying to figure out what the current value of a piece of gear is (say for insurance purposes) that's a whole different thing.
Old 26th July 2007
  #6
Lives for gear
 
Tibbon's Avatar
You can do a double declining depreciation as well. You've got a business, call an accountant!

And a lawyer while you're at it!
Old 26th July 2007
  #7
Gear nut
 
daeve's Avatar
 

Thread Starter
well this is mainly because my partner and i are splitting... and also for tax and insurance purposes.
Post Reply

Welcome to the Gearslutz Pro Audio Community!

Registration benefits include:
  • The ability to reply to and create new discussions
  • Access to members-only giveaways & competitions
  • Interact with VIP industry experts in our guest Q&As
  • Access to members-only sub forum discussions
  • Access to members-only Chat Room
  • Get INSTANT ACCESS to the world's best private pro audio Classifieds for only USD $20/year
  • Promote your eBay auctions and Reverb.com listings for free
  • Remove this message!
You need an account to post a reply. Create a username and password below and an account will be created and your post entered.


 
 
Slide to join now Processing…
Thread Tools
Search this Thread
Search this Thread:

Advanced Search
Similar Threads
Thread
Thread Starter / Forum
Replies
Guidotoons / Gearslutz Secondhand Gear Classifieds
13
cc1 / Gear free zone - shoot the breeze!
9
Paul Vnuk Jr. / So much gear, so little time!
1
RevAudio / Gearslutz Secondhand Gear Classifieds
0
logic / The Moan Zone
23

Forum Jump