Hi,
I can see that software is considered a business asset - but here is where I get confused. In 2015 I spent $7500 for engineering software - and it comes with a subscription. The subscription is about $1600 or $1700 per year and it keeps the software I bought up to date.
So, my software doesn't depreciate if I continue with the subscription. However, assets depreciate. I assume the subscription cost would be filed as an expense.
What is the typical way for software to be deducted? An asset or expense?
