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New Member
posted Oct 29, 2019 8:25:20 PM

Where does a self employed carpentry worker put the amount he has paid for tools? The tools are meant to be used for his business.

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1 Best answer
New Member
Oct 29, 2019 8:25:22 PM

Small tools, such as utility knives, hammers, drills, circular saws can go under supplies.  They have relatively short lives.  Tools such as a jointer, or some of the big table saws, tools over $500 are added as assets and depreciated.

1 Replies
New Member
Oct 29, 2019 8:25:22 PM

Small tools, such as utility knives, hammers, drills, circular saws can go under supplies.  They have relatively short lives.  Tools such as a jointer, or some of the big table saws, tools over $500 are added as assets and depreciated.