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De Minimis Safe Harbor Election Printable Form

De Minimis Safe Harbor Election Printable Form

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hey everybody this is Ray Halstead and Andrew McMillan with rehcpa today we want to talk about the de Minimus Safe Harbor election a lot of you guys out there are small business owners or own rental properties you're always looking for an easier tax deduction well a de minimis Safe Harbor election really helps you to be able to expense certain things that you normally would have to capitalize and I got Andrew McMillan here with me today Andrew can you tell us a little bit about the de Minima Safe Harbor election so by default if you want a business or rental properties by default if you buy tangible property you're going to be required to capitalize that in your business and depreciate it over its useful life so for example if you buy a computer for fifteen hundred dollars by default you're going to be required to capitalize that on your balance sheet and then depreciate it over five years so it's not a real great tax deduction when you go and buy tangible property and and what we're t

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