Originally Posted by midaycare:
Do I have to depreciate expensive toys? I bought a few expensive things with grant money this year. $2000, $500, $1500, etc. Do I need to list these as a 5 year depreciation?
Also... does KidKare keep track of depreciation for accounting purposes? Minute Menu did not do this, if I remember correctly. It listed things, but I don't think it kept track of it.
New IRS rules say that you don't have to depreciate any individual item that costs less than $2,500!
KidKare works the same way as Minute Menu with regards to depreciation. That is, it only lists items to be depreciated on the Depreciation Worksheet report.