Good evening all. I had a question I hoped someone would be able to help me with. In the middle of last year, I created a small business dedicated to my photography and photographic prints. This was in response to a large number of requests for prints from people. I'll be the first to admit I wasn't fully ready, but the large number of requests and the fact that I wanted to make sure I was on the "up and up" as far as the IRS and Dept. of Revenue were concerned led me to formally create the business. My question is this, I've been trying to read IRS Publication 535: Business Expenses. From what this publication says, it appears to me that my camera and printing equipment would be considered startup cost and a capital expense while things like supplies (film, cartridges, etc) would be considered deductible expenses. Am I reading/understanding this correctly or is there another way of looking at this that makes my camera equipment a deductible expense? Thank you very much for any information you can give me.
Donald