If the item in question is $2,500 or less, you can expense it. How you categorize it is more personal preference than anything else. You could create a category called "Show Props", or "Power Tools", or you can categorize it as supplies or Miscellaneous. If it is more than $2,500, you will have to categorize it. You will then have a choice of depreciating it over its useful life, or expensing the entire cost by taking bonus depreciation and/or a Section 179 deduction.
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