My husband is a Pastor of a new church plant, not receiving any income for yr2023. However, in yr2024 he will begin getting a W2 from the church he pastors. For yr2023 we are listing expenses it cost us for setup to begin the church. For each expense asset, I am being asked whether or not to spread the deduction over several years or take the full value (if the business will show profit).
Assets: Sound system, mikes, wireless mikes, mobile phone, projectors
These types of assets do depreciate over time, so I don't understand what it means if I take the full value, and the item is not used at any point within its lifetime, I may be charged. Maybe I am not understanding this correctly.
I don't know what the best path to take is in my situation as my husband is not in this for profit, church is non-profit. But he will begin receiving a salary beginning in 2024 via W2.
