Business & farm

You take a Section 179 deduction for an asset. It is a way of taking all the depreciation in one shot as opposed to taking it over the useful life. Section 179

The De Minimus Safe Harbor election takes the asset as an expense.

De Minimis Safe Harbor Election

This election for items $2,500 or less is called the De Minimis Safe Harbor Election. This election is an option you can take each year that lets you write off items $2,500 or less as expenses instead of assets. Expenses typically reduce your income by a larger amount than depreciating an asset over multiple years does. This means you could get a bigger refund.