It was recommeded that I have assets and depreciation schedules (for tax purposes) for the equipment purchased (challenger machine, sprayers, stair machine (buffer), etc).
Any of y'all do this for yours?
If so, what do I need to know as far as the depreciation schedules?
My own tax person has always depreciated only my
major pieces of equipment, such as floor machines.
Everything else: cleaning products, pads, small equipment such as vacuum cleaners, hand orbiters, etc., are treated as expenses against each year's
income. Business vehicles, of course, are also depreciated.
