Tag Archives: capital expenditures

IRS Raises Safe Harbor Threshold and Simplifies Recordkeeping for Small Businesses to Deduct Certain Expenditures

The Internal Revenue Service (IRS) announced on November 24, 2015 that it has raised the safe harbor threshold for small businesses to deduct certain capital expenditures from $500 to $2,500. The $2,500 threshold applies to small businesses that do not have audited financial statements.  For larger businesses with audited financial ...