If I purchased a phone for my buisiness that cost over $200, do I file it as an office expense, or an asset - when my business made under $20,000.00 ?

clarebellerbymar · ‎March 4, 2020

ThomasM125 · ‎March 4, 2020

First, you should go through the depreciation/asset section for the business you are reporting and you will see a question regarding an election to expense asset purchases.You will be given the option to elect to expense your assets if they cost under $2,500, and if you accept that election, then you can simply expense the cost of the phone.

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If I purchased a phone for my buisiness that cost over $200, do I file it as an office expense, or an asset - when my business made under $20,000.00 ?

If I purchased a phone for my buisiness that cost over $200, do I file it as an office expense, or an asset - when my business made under $20,000.00 ?

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If I purchased a phone for my buisiness that cost over $200, do I file it as an office expense, or an asset - when my business made under $20,000.00 ?

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If I purchased a phone for my buisiness that cost over $200, do I file it as an office expense, or an asset - when my business made under $20,000.00 ?

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