Here’s a good Idaho business rule to follow: buy low and sell high.
That’s good, but the three-step process below is even better:
- Buy low.
- Depreciate to zero.
- Sell high.
And you can accomplish this by using antiques in your Idaho business.
If you can purchase antiques rather than new or lightly used, you can add to your net worth. Many Idaho businesses are buying cars, clock, rug, desk, cabinet, bookcase, paperweight, conference table, chair, umbrella stand, coatrack, library table, or other asset that will function in their business just as well as a new purchase.
How many business assets have you bought and used in your Idaho business that have gone up in value?
If you are like most business people, the answer to this question is “none” or “very few.” In fact, you may not have considered antiques at all.
But now that you know their Idaho business potential, give antiques a serious look. With antiques, you can get the best of all worlds:
- beautiful assets you use in your Idaho business,
- assets you can depreciate and/or Section 179 expense against your business income, and
- assets that can increase in value.
If you were to buy antiques for your business today, you could expense up to $500,000 of qualifying costs using Section 179 expensing.