The Chocolate Life

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Those of you who are running a chocolate business or sell your chocolates, what is the time table for your accumulated depreciation on your equipment?

I am have purchased my basic home equipment but right now I am planning to use it just for hobby use, but if the people I share it with like I may turn it into a business and was curious about the depreciation. If you could just tell me how many years and what model you have that would be great.

If you run a business and don't know what I'm talking about feel free to message me. If you're not doing this you could be in a bit of trouble if you ever did get audited and you are technically not paying taxes correctly. That can make the government mad haha!

Thanks! 

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Depreciation is an accounting function, the calculation of which is derived from a number of business decisions you make WITH your accountant.  Depreciation can accrue over a period of years, or can be calculated on a flat/sliding scale and accounted for yearly prior to your business taxes being done.

 

In a nutshell?  There is no one single way of calculating depreciation for equipment. 

 

Cheers.

Brad

I understand depreciation, how to calculate, the many different ways of calculating, and how it applies to your; balance sheet, income statement, free cash flows, etc. I am just curious which method people are using.

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