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.

[Delphision · Accepted solution]

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.