Business Equipment: Section 179, Depreciation or a DeMinimus Expense. S9E2

That desk, laptop, or company vehicle might affect your taxes more than you think. Get clear on how these items should be handled in your bookkeeping.Many business owners buy equipment without knowing whether it should be depreciated over time, written off with Section 179, or treated as a smaller expense under de minimis rules. Those choices can impact taxes, bookkeeping accuracy, and how clearly you understand your business finances. In this episode, our favorite Bookkeeping Mensch, Paul Rosenblum, breaks down these three key concepts in plain English and explains why business owners should talk with their tax preparer now that things are a bit calmer post tax season. This episode could save you money and reduce confusion.Links: NOLO: IRS De Minimis Rule for Deducting Business Property: https://www.nolo.com/legal-encyclopedia/new-irs-de-minimis-rule-deducting-business-property.html#:~:text=BasicallyQuickbooks Small business tax deductions cheat sheet: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://digitalasset.intuit.com/render/content/dam/intuit/sbseg/en_us/Blog/Downloadable-assset/Checklist/small-business-tax-deductions-checklist-us-en.pdfIndeed, What Is the Definition of De Minimis in Business? https://www.indeed.com/hire/c/info/de-minimisSend us Fan MailSupport the showAbout the hostPaul Rosenblum has been doing hands-on bookkeeping for over 30 years, starting with QuickBooks Desktop and adapting to the world of cloud-based QuickBooks Online. He shares practical, in-the-weeds lessons from real client files every episode.👀 Why Niche Podcasts Are The Bedrock Of The Industry: https://podalization.substack.com/p/why-niche-podcasts-are-the-bedrock😄 Send Paul a text or 📞 voice message (include your contact info if you want a reply) https://www.buzzsprout.com/twilio/text_messages/2188873/open_sms📨   Email:   [email protected]💸  Website: https://bookkeepermensch.com🎧 Producer Steph: https://linktr.ee/stephfuccio 🎵 Music: SourceAudio: https://www.sourceaudio.com/🔉 Sound effects: https://freesound.org