New tax break for businesses allows for deductions of items 200 - KOTA Territory News

New tax break for businesses allows for deductions of items 200 dollars or less

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By Barrett Phillips

A new tax break has been put into place this year that allows businesses to deduct any purchased goods costing less than 200 dollars from their taxes.

Kevin Sickels, certified public accountant, says the items have to be classified either as a betterment, restoration, or adaptation to the business.

"You could have a computer monitor, a calculator, anything that is a purchased good that is less than 200 dollars you can deduct without having to worry about the IRS auditing that item," said Sickels.

Remember, taxes are due April 15th, so you have less than a month to file your return!

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