topic Is computer software a fixed asset for a small business, even if under $100? Or is it an office expense? in Deductions & credits

Is computer software a fixed asset for a small business, even if under $100? Or is it an office expense?

MB86 — Sat, 01 Jun 2019 06:49:51 GMT

Lilly Peck — Sat, 01 Jun 2019 06:49:52 GMT

In your case, being that it is such a small amount, expense it in one year. Otherwise you will have to depreciate the cost over three years.

MB86 — Sat, 01 Jun 2019 06:49:54 GMT

Thank you! Do I list it as a Business Asset and expense under section 179 or would I list as an Office Expense, like office supplies?

Lilly Peck — Sat, 01 Jun 2019 06:49:56 GMT

You could actually do it either way but I would list it as an office expense, it's easier and you obtain the same result.