Assets & Depreciation for Home Care Agency Owners (Explained Simply)

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Have you ever purchased a computer, office furniture, or a vehicle for your home care agency and wondered whether it should be treated as an expense or an asset?

Many business owners assume every purchase is immediately deductible. But assets often follow different tax rules.

In this video, I explain:

• What makes something a business asset

• The difference between an asset and an expense

• Fixed assets vs. intangible assets

• Depreciation vs. amortization

• Section 179 and Bonus Depreciation explained in plain English

• The De Minimis Safe Harbor Election

• Why good recordkeeping matters

Understanding these concepts can help you make better financial decisions, keep cleaner books, and avoid costly tax mistakes as your home care agency grows.

This video is provided for educational purposes only and should not be considered tax, legal, or financial advice for your specific situation.

Видео Assets & Depreciation for Home Care Agency Owners (Explained Simply) канала Thrive Tax & Accounting