Expenses or Assets?
Did you recently buy new equipment? Don’t mix up expenses and assets. When you buy something big—like new machinery, computers, or furniture—it might feel like a regular expense. But the IRS treats these as assets, and they’re usually depreciated over time instead of fully deducted all at once.
In QuickBooks, record these purchases as fixed assets rather than expenses to keep your books accurate and avoid red flags at tax time. A Chandler CPA (like us) can help decide what should be expensed vs. capitalized and set up proper tracking for depreciation.
Questions? Call us at 480 747 3935 or visit our Monthly Accounting Services page, too!
