Mar 25, 2016
Tangible Property Expensing
Reminder: Tangible Property Expensing Threshold is $2,500. In late 2015, the IRS raised the safe harbor threshold for deducting certain capital items. Previously $500, the amount was raised to $2,500 for taxpayers without an applicable financial statement, or AFS. This was a huge “win” for the AICPA. They had been advocating for an increased threshold for quite some time. The new de minimisamo…
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