If you purchase an equipment or furniture and fixture for your business, you may expect to capitalize it as fixed assets which are subject to depreciate over 5 years in your books. This is a correct practice, but do you … Read More
Safe harbor
Write off the equipment cost of depreciating it?
When we perform bookkeeping and prepare tax returns, our clients often ask us if we should depreciate the equipment over 5 years or simply write off in the year the equipment is in use. The answer is it depends on … Read More