M-MTax
Level 12

Tax law changes

1) Should i write off these assets as expense under Other Expenses Section ?

 

Yes

 

2) Can i choose which asset to use "De Minimis Safe Harbor" ?

 

No. You must choose all that are $2,500 or less.

 

 

3) Without AFS, What if some asset less than $2500, and other over $2500. I should write off those under 2500 as expense, and over 2500 as deprecation? right?

 

Right.

 

 

4) Can i still use 179 for those over 2500, if i use "De Minimis Safe Harbor" for those under 2500?

 

Yes