Due in part to Padgett advocacy in Washington, the IRS raised the safe harbor threshold for deducting certain capital items from $500 to $2,500. The change will help to simplify and reduce the burden of recordkeeping on small business owners. For more information, click on the link below for the announcement posted today on IRS.gov.https://www.irs.gov/uac/Newsroom/For-Small-Businesses-IRS-Raises-Tangible-Property-Expensing-Threshold-to-$2,500-Simplifies-Filing-and-Recordkeeping Do you have the support you need to manage your small business bookkeeping? Contact us to schedule an appointment to speak with a local small business advisor. Contact Us Contact Us Categories Taxes Tax Strategies
