# Sell my personal iMac to my business?



## SovaScreen (Oct 3, 2011)

At this point, we're using a '05 gateway laptop for our primary business computer and it's prett much terrible - running illustrator alone is a chore, not to mention when I add photoshop, Firefox, and vector magic to the mix. My wife and I both have iMacs and are wondering if we can sell one of our personal iMacs to our business (general partnership) and if so, how we would go about doing this in our books. 

Thanks in advance for any resolution on this.


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## sben763 (May 17, 2009)

SovaScreen said:


> At this point, we're using a '05 gateway laptop for our primary business computer and it's prett much terrible - running illustrator alone is a chore, not to mention when I add photoshop, Firefox, and vector magic to the mix. My wife and I both have iMacs and are wondering if we can sell one of our personal iMacs to our business (general partnership) and if so, how we would go about doing this in our books.
> 
> Thanks in advance for any resolution on this.


My accountant simply had me write a check from business to me. I would consult a accountant to be sure as laws change. I had to do this with a lot of my equipment also I bought everything and was just doing as a hobby and after a 1 1/2 years decided to start a business


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## Guest (Dec 25, 2011)

sben763 said:


> My accountant simply had me write a check from business to me. I would consult a accountant to be sure as laws change. I had to do this with a lot of my equipment also I bought everything and was just doing as a hobby and after a 1 1/2 years decided to start a business


 Wow. I just had an Ah-ha moment. I am so stupid when it comes to figuring out business ins & outs. Thank you to fellow "artists" for using your common sense to put this method into words even my brain could grasp! I have a hobby to turn business & now it makes perfect sense how to make the equipment switch. Now to call that Accountant!:tipthank:


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## proworlded (Oct 3, 2006)

Sounds like this is a question that would be better for your accountant to answer.


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## SovaScreen (Oct 3, 2011)

We dont use an accountant, we do our own books. We've been considering it but don't have the revenue to support a dedicated accountant or even a consultation.

I'm just trying to get a feel from others' personal experiences.


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## sben763 (May 17, 2009)

SovaScreen said:


> We dont use an accountant, we do our own books. We've been considering it but don't have the revenue to support a dedicated accountant or even a consultation.
> 
> I'm just trying to get a feel from others' personal experiences.


I did text my accountant. First the disclaimer this is not legal or tax advise but here was the reply. As long as you have separate accounts personal and business it would be no diffrent than buying from someone else. I text cause my wife bought me an iPad and I use the one I have now a lot but has had issues lately. Even though she intended as a gift I use for business 95% of the time. Now to find something to do with that money hmmmm
MERRY CHRISTMAS


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## binki (Jul 16, 2006)

If you are in California you will have to pay use tax on it.


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## SovaScreen (Oct 3, 2011)

sben763 said:


> I did text my accountant. First the disclaimer this is not legal or tax advise but here was the reply. As long as you have separate accounts personal and business it would be no diffrent than buying from someone else. I text cause my wife bought me an iPad and I use the one I have now a lot but has had issues lately. Even though she intended as a gift I use for business 95% of the time. Now to find something to do with that money hmmmm
> MERRY CHRISTMAS


Thanks, that's exactly what I wanted to know. We thought that's what we would have to do but wanted someone else's experience with the same situation.


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## binki (Jul 16, 2006)

This might help as well. 

Converting Personal Use Property to Business Use


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## SovaScreen (Oct 3, 2011)

Binki, that is excellent information. Thank you very much. We will definitely have to look around that site much more too, lots of useful stuff!


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## binki (Jul 16, 2006)

NP. also check out www.taxguru.org and blog.taxguru.net (his blog where you can ask questions). He is very good with tax info.


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## sportsxchange (Jan 1, 2012)

Great info


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## famfunllc (Jan 7, 2012)

As everyone else mentioned, consult a local CPA/accountant. I don't know anything about how you formed your business or how you're keeping your books but you may also be able to add the computer to your business as a non-cash contribution at FMV. It wouldn't be subject to bonus depreciation because it's used but I think you could take S179 on it.

Just FYI.


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## binki (Jul 16, 2006)

If you are in California, count on your county coming after you every year for property tax on your FFE. In San Bernadino County we get whacked with 1% property tax a year on our equipment, furniture and fixtures as well as non-resellable supplies like inkjet ink for our printer that prints invoices, and the paper for it. That really sux since we already paid sales tax on the same stuff when we purchased it.


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