Repair Regulations: Limiting Business Deductions
Women in Consulting
FEBRUARY 20, 2014
By: Renee Daggett In September 2013, the IRS released new rules regarding expensing repairs/supplies and depreciating assets. For years, we have used the Generally Accepted Accounting Principle of expensing items that small businesses purchase of up to $500 or even $1000 when appropriate. . Otherwise the limit is $200).
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