How to correctly deduct purchase of a laptop dedicated to my consulting work?

If you use the computer in your business more than 50% of the time, you can deduct the entire cost under a provision of the tax law called Section 179. For example, if you use your computer 60% of the time for business and 40% of the time for personal use , you can deduct only 60% of the cost.

What CCA class is a laptop?

Class 50

Class 50 (50% CCA per annum) – laptops, ipads, printers, servers, computer system software, iphones, and GPS for vehicles.

How do I categorize a laptop in Quickbooks?

Equipment purchase

1. Log in to this link qbo.intuit.com.
2. From the Accounting menu, select Chart of Accounts.
3. At the upper-right, click New.
4. Under the Account Type, select the type of asset account you’d like to create.
5. Select the Detail Type and enter a name to the new asset account.
6. Click Save and Close.