The threshold is too high to get a casualty loss for a 10-key for an individual (assuming the firm is a partnership, sole proprietorship or LLC, as it should be). Besides, as a business asset, you’ve been depreciating it and, assuming it’s at least 5 years old, it’s probably already fully depreciated. The only tax benefit available is the cost recovery deduction on the replacement.
jagedlo over 2 years ago
Going back to your old playing days, Tank?
TexTech over 2 years ago
Man, his coaches must have really drilled that fumble response into his head!
Ravenswing over 2 years ago
Still crazy, after all these years.
Ellis97 over 2 years ago
What’re those receipts for anyways?
andyboda over 2 years ago
Love the old stuff
PoodleGroomer over 2 years ago
He got it before it hit the ground. It is still in play.
Linguist over 2 years ago
I was married to a CPA for almost 20 years. Some people really did bring all their receipts to her in shoeboxes!
Mark DeMist Premium Member over 2 years ago
Been a few years since a fumble. Well done.
Dobie Premium Member over 2 years ago
Therrrrrre it is… been a while since we’ve seen Tank jump on a fumble! I was beginning to think he was cured!
sarah413 Premium Member over 2 years ago
Classic Tank. Next might be his reference to Norts Spews.
ajr58(1) over 2 years ago
Yup. And, nope.
Mel-T-Pass Premium Member over 2 years ago
Good to know Tank’s post traumatic fumble recovery disorder is still part of the strip.
BlueKnight1966 over 2 years ago
The threshold is too high to get a casualty loss for a 10-key for an individual (assuming the firm is a partnership, sole proprietorship or LLC, as it should be). Besides, as a business asset, you’ve been depreciating it and, assuming it’s at least 5 years old, it’s probably already fully depreciated. The only tax benefit available is the cost recovery deduction on the replacement.
Sayman over 2 years ago
Wow, haven’t seen Tank’s fumble disorder in ages.