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June 4, 2019
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Asset or expense? bought log splitter for firewood business December 2017. Should I deduct this as an expense or depreciate as an asset?

  • June 4, 2019
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We bought $1200 log splitter for our firewood business. Should I put it as misc. expense or as an asset? If I should go with asset, should I do the annual election? and should I do section 179? 

Thanks

Best answer by Critter

These are all valid options & only you can make that decision. Try the return all ways & then make your choice .

1 reply

Critter
CritterAnswer
Employee
June 4, 2019

These are all valid options & only you can make that decision. Try the return all ways & then make your choice .