IRS raises expense threshold

2/1/2016

The IRS announced during 2015 that the de minimis safe harbor has been raised from $500 to $2,500.

Simple put you can now expense tangible property up to $2,500, when in the past the IRS required these expenses to be capitalized and depreciated.  This will ease bookkeeping time and increase current year write offs.  


IRS Info

View Our Tax Calendar

The Tax Man Blog

1/15/2021
1040's can be filed starting February 12th Read More
1/15/2021
New Stimulus package approved by Congress Read More
11/24/2020
IRS clarifies PPP expense deductions Read More
11/9/2020
Biden's Proposed Tax Plan Read More
12/20/2019
Taxation of fringe benefits Read More
View All Blog Postings
© Copyright 2021 David Sivcovich CPA PC