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Do I depreciate or expense smallware (plates,cups,table runners, etc.) each item under $150, used for business presentations, but to be used for more than 1 year.
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Normally, depreciation can be taken for tangible property large purchase items like building, equipment, machinery, vehicles, etc. Small items like you have mentioned can be expensed or deducted as business expenses when incurred on Schedule C. See helpful IRS link on business expenses deductions. IRS Business Expenses
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