{"id":1767,"date":"2015-12-14T10:18:14","date_gmt":"2015-12-14T16:18:14","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=1767"},"modified":"2019-03-06T10:29:12","modified_gmt":"2019-03-06T16:29:12","slug":"irs-raises-tangible-property-expensing-threshold-from-500-to-2500","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\/","title":{"rendered":"IRS Raises Tangible Property Expensing Threshold From $500 to $2,500"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">To the delight of small businesses and the accounting industry, the Internal Revenue Service has raised the tangible property expensing threshold from $500 to $2,500, starting in tax year 2016. However, the IRS will provide audit protection and not challenge the use of the new, elevated $2,500 threshold by eligible businesses in tax years before 2016.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By raising the safe harbor threshold for deducting certain capital items to $2,500, the IRS simplifies the paperwork and recordkeeping requirements for many small businesses. This change impacts small businesses that don\u2019t maintain audited financial statements, and applies to amounts to acquire, produce and improve tangible property that would otherwise need to be capitalized or depreciated over a period of years. Such expenditures need to be substantiated by an invoice. This is a much-welcomed change, as the cost of many commonly expensed items, such as cell phones, tablets, and machinery and equipment, typically surpass the $500 level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just like before this most recent change, businesses can still claim otherwise deductible repair and maintenance costs, even above the $2,500 threshold. For businesses with audited financial statements, the de minimis or small dollar threshold remains at $5,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For more information, click <\/span><a href=\"https:\/\/www.accountingtoday.com\/news\/irs-raises-tangible-property-expensing-threshold-to-2-500\" data-wa-link=\"body_irs-expenseThreshold\" target=\"_blank\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To the delight of small businesses and the accounting industry, the Internal Revenue Service has raised the tangible property expensing threshold from $500 to $2,500, starting in tax year 2016. However, the IRS will provide audit protection and not challenge the use of the new, elevated $2,500 threshold by eligible businesses in tax years before<\/p>\n","protected":false},"author":107082828,"featured_media":10654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rkv_browse_by_id":0,"rkv_cta_id":0,"rkv_optimize_for_pagespeed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"useModifiedDate":false,"customPublishDate":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[509474089],"tags":[10585],"intuit_collection":[],"intuit_series":[],"coauthors":[509474105],"class_list":["post-1767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-law-and-news","tag-small-business"],"header_image":"","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IRS Raises Tangible Property Threshold<\/title>\n<meta name=\"description\" content=\"The IRS raised the safe harbor expensing threshold for tangible property from $500 to $2,500 per item. 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Learn how this change simplifies deduction decisions for small business clients.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\/\" \/>\n<meta property=\"og:site_name\" content=\"Tax Pro Center | Intuit\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/IntuitAccountants\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-14T16:18:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-06T16:29:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2017\/10\/irs-e1535552628720.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"655\" \/>\n\t<meta property=\"og:image:height\" content=\"368\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mike D&#039;Avolio, CPA, JD\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@IntuitAccts\" \/>\n<meta name=\"twitter:site\" content=\"@IntuitAccts\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike D&#039;Avolio, CPA, JD\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/\"},\"author\":{\"name\":\"Mike D'Avolio, CPA, JD\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#\\\/schema\\\/person\\\/b0227975128a9f59785bcf23298e81e0\"},\"headline\":\"IRS Raises Tangible Property Expensing Threshold From $500 to $2,500\",\"datePublished\":\"2015-12-14T16:18:14+00:00\",\"dateModified\":\"2019-03-06T16:29:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/\"},\"wordCount\":196,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/irs-e1535552628720.jpg\",\"keywords\":[\"small business\"],\"articleSection\":[\"Tax Law and News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/\",\"url\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/\",\"name\":\"IRS Raises Tangible Property Threshold\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/tax-law-and-news\\\/irs-raises-tangible-property-expensing-threshold-from-500-to-2500\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/accountants.intuit.com\\\/taxprocenter\\\/wp-content\\\/uploads\\\/2017\\\/10\\\/irs-e1535552628720.jpg\",\"datePublished\":\"2015-12-14T16:18:14+00:00\",\"dateModified\":\"2019-03-06T16:29:12+00:00\",\"description\":\"The IRS raised the safe harbor expensing threshold for tangible property from $500 to $2,500 per item. 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Here is some vital information you need to know. Tangible Property Regulations The IRS has issued regulations covering the tax treatment of\u2026","rel":"","context":"In &quot;Tax Law and News&quot;","block_context":{"text":"Tax Law and News","link":"https:\/\/accountants.intuit.com\/taxprocenter\/category\/tax-law-and-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/2014_01-e1508456052479.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/2014_01-e1508456052479.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/2014_01-e1508456052479.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/taxprocenter.proconnect.intuit.com\/wp-content\/uploads\/2015\/09\/2014_01-e1508456052479.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":2003,"url":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/what-you-need-to-know-for-tax-year-2015\/","url_meta":{"origin":1767,"position":3},"title":"What You Need to Know for Tax Year 2015","author":"Mike D'Avolio, CPA, JD","date":"January 21, 2016","format":false,"excerpt":"Tax year 2015 is shaping up to be another busy year for tax professionals across the country, and keeping up to date with the latest tax law changes is instrumental in servicing your clients the best way possible. 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