legomom922 04:33 AM 03-22-2011
What do I do with my office supplies such as: paper clips, stapler, tape dispenser, white out, pens, desk organizing items such as pencils holders, paper clip holders, folder organiziers, files, etc? Those are items I had before I opened my business. Do they get depreciated?? Are should just worry about the big stuff even though these items are used in business every day.
Obviously, when I need new white out or pens, I will write them off, so just wondering what to do with all this stuff that was bought BEFORE opening.
TomCopeland 07:38 AM 03-22-2011
If you bought such small items before you went into business with the intention of using them in your business, then deduct them in one year - don't depreciate.
If you bought such small items before you went into business with no plans on using them in your business, but you later do use them in your business, then depreciate them. Because of the small value of these items, you can choose not to depreciate them if you want.