• Please use real names.

    Greetings to all who have registered to OPF and those guests taking a look around. Please use real names. Registrations with fictitious names will not be processed. REAL NAMES ONLY will be processed

    Firstname Lastname

    Register

    We are a courteous and supportive community. No need to hide behind an alia. If you have a genuine need for privacy/secrecy then let me know!
  • Welcome to the new site. Here's a thread about the update where you can post your feedback, ask questions or spot those nasty bugs!

The Yearly Cost of a 1D series camera?

Asher Kelman

Asher Kelman

OPF Owner/Editor-in-Chief
Lenses don't date that much, cameras do!

So if you sell your last year's 1D series camera, what does it cost you in the end per year?

Asher
 
K

Kathy Rappaport

pro member
Original Price minus...

The real price depends on if you have a photography business and can write off the equipment and what your tax bracket would be!

The Math:

Original Price (Not sales taxabke) $8000.00
Depreciation: -1600.00 (IRS Depreciation says it's 5 year life cycle)
Maintenance - 100.00
Subtotal 6300.00

Net Income from Photography ??????????????????????
Take number of shutter actuations and divide income for a per actuation net

Sale of Camera 5000.00

So maybe $3000 for the first year on a 3 year trade in....my guessitmate.
But you have to really figure out what your net or income is to determine
 
Asher Kelman

Asher Kelman

OPF Owner/Editor-in-Chief
Kethy,

On your calculation, if the camera was sold at the end of 1 year, there would be $1600 depreciation, $100 maintenance. Let's say after 3 years you sell it for $4500, what was your yearly cost? Not being up on tax calculations, here's my try:

We'd have 3 years at $1600 depreciation and $300 maintenance. So that's an expense of $5100. Let's say your taxes are 50%. The tax benefit to you is $2550. The camera then cost you $8000 less $2550 from taxes, less $4500 from selling the camera or just $950 or ~$325/year

So in summary I guesstimate 3 year ownership of a 1Ds II

50% bracket: $325/annum
20% bracket: $836/annum
no deductions $1166/annum

For a $4500 1DII with no deductions held for the same period and sold for $2000, the cost would be $833/annum

Is this what people are experiencing? Do you manage to expense your camera like Kathy? I used to but not now.

Asher
 
K

Kathy Rappaport

pro member
IRS SEction 179...

Asher,

The IRS allows for 100% depreciation deduction for the 1st year called a Section 179 ....comes right off the top of income. Sames as desks, phones, computers, advertising and all other pieces of running a business!

So it really depends on your accountant.

PS: A camera for you is a write off. You are running an internet education forum. Maybe you need a new accountant?
 
You must log in or register to reply here.
Top