Many offices are purchasing the KW Experience product. This is an asset to the Market Center. Below is the section of the chart of accounts which gives a description of many of the items included in the KW Experience product.
The KW Experience should be capitalized as Furniture & Fixtures and depreciated accordingly as Straight Line depreciation. F & F are normally depreciated over 5 years.
1-1600/1609 Furniture & FixturesCode purchases of furniture, fixtures, signs, decorating items, pictures, etc. to this account.
Normally the “break point” between capitalizing or expensing purchases of furniture, fixtures, and equipment is $500 per unit cost.
The MC’s CPA (for MCs in the US) may choose to write off the cost of assets to expense for income tax purposes but must also provide a depreciation schedule for normal write off for KW profit share over 5-7 years.