Your expense for independent contractors can include both those that you sent a 1099 to and those that did not meet the $600 threshold. However, you may also send a 1099 for independent contractors that are deducted elsewhere on your return. You cannot deduct the same expense twice on your return.
Typically, you depreciate larger purchases (usually more than $200), which last more than one year. If you had paid money for a capital expenditure or purchased an asset, you would classify it as an asset on your Balance Sheet and deduct it through depreciation over the life of the asset on your Profit & Loss Statement. You cannot classify the same transaction as an asset and also deduct it as an expense, even if you did send them a 1099.
Your yard services would be deducted as repair and maintenance expense, but not also in the independent contractor category.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
