Weena wrote:
It was for charity, so I hate everything about this a whole lot less.
Server Parts: Priced at Cost $1M
Discarded Server Parts: Book Value $500k (less depreciation)
*deduct $500k from taxes for depreciation*
Donation to Charity: $5k (sale price) server part (or skip last step) and deduct either depreciated value or original cost
*deduct either $5k, $495k, or $1M for charitable donation*
Buy new server parts from China: $500k
*deduct $500k as capital investment*
Bobby Kotick wrote:
We have a real culture of thrift.
The numbers are arbitrary but the basic principle holds. Charity is a scam. It's why "the US having the highest corporate tax rate in the world" is hogwash and why other countries don't do this "charity" crap.