Assets under $2,500

USA Discussion in 'General Accountancy Discussion' started by Jason Taylor, Jan 10, 2017.

  1. Jason Taylor

    Jason Taylor

    Feb 24, 2016
    Likes Received:

    We have set our safe harbor threshhold for capitalizing equipment at anything $2,500 or more. My question is, can I expense out equipment under $2,500 from previous years that are sitting on my balance sheet? Meaning, prior to setting our threshhold, any assets under $2,500 that are currently on our balance sheet, can I now expense them?

    Jason Taylor, Jan 10, 2017
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