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Business & farm
The IRS will now allow you to deduct long-lived items (assets) as an equipment expense if they cost $2,500 or less (per item).
If any of your pruchases cost more that $2,500 and are items that last several years without needing to be replaced, they are considered fixed assets and are subject to depreciation.
"Personal" items that are necessary to your business are deductible.
May 31, 2019
7:43 PM