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S
Scoop980
Employee
February 28, 2020
Question

We have a very small business. How do I handle a sander$22; glue gun$23, knife kit $23, small knives $10 to $20 and lg knife $159.00? Expensed or deprecated?

  • February 28, 2020
  • 2 replies
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2 replies

J
JulieS
February 28, 2020

All of those items can be expensed.

 

Even though they are designed to last more than a year, items under $1,000 do not have to be listed as assets. You could even group them together as Small tools and equipment. 

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    S
    Scoop980Author
    Employee
    February 28, 2020

    I don’t have a small tools expense. Can I put it under office expense or should I use 179 section expense 

    DavidS127
    DavidS127
    February 28, 2020

    You can put those expenses for small tools in the Supplies category of Schedule C.

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