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posted Jun 8, 2024 3:21:00 PM

How to get an (AFS) applicable financial statement for safe harbor purpose ?

I search for the answer but could not find something comprehensible , how to get an (AFS) applicable financial statement for safe harbor Deminimis purpose  (to increase the threshold from $2,500 to $5,000) ?

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Level 15
Jun 8, 2024 4:12:05 PM

Go to this IRS website for information - https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations