Tangible Property Expensing Threshold Raised by the IRS
The IRS simplified small business accounting this month by raising the tangible property expensing threshold for deducting many capital assets from $500 to $2,500. This change affects businesses that do not have audited financial statements. For taxpayers with audited financial statements, the threshold remains $5,000. The new $2,500 tangible property expensing threshold applies to […]
