lawn mower - depreciate or expense - Posted by fstanford

import · January 23, 2005, 8:30pm

Posted by E on January 29, 2005 at 23:13:16:

Technically, it is 5 year property and should be depreciated. However, even though the tax code doesn’t really recognize the term de minimus, I believe, it is very common practice for all types of businesses to establish some “de minimus” level such that they expense anything below that level. I’ve heard of companies and people using something like $300.
Ayone else with comments on this?

import · January 23, 2005, 8:30pm

Posted by fstanford on January 23, 2005 at 21:30:17:

I bought a lawn mower for $180 and a weed whacker for $80 last year for a rental property. Can these be expensed or do they have to be depreciated? If they have to be depreciated what class of life?

Thanks in advance!