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How to deduct tools for a handyman business?

 
2 Replies

How to deduct tools for a handyman business?

If you are self employed, you can deduct small tools as a miscellaneous expense. If it is something that has to be depreciated, enter it as an asset, once you finish entering expenses.

How to deduct tools for a handyman business?

I enter mine as Other Misc Exp unless it is a big amount I think over $2,500 then it is an Asset and you depreciate it over time.  Or for very small items you can put it in Supplies l

 

 

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