2008 Revenue: $116,000

List of biggest indiv asset expenses:
$700 laptop computer
$350 blackberry phone
$300 for MS-Office
etc...(all less than #300)...

I'm a one person Corp - its my brains/pragmatic doing that i make revenue off of, not machinery-type-assets. I want to keep it simple, so I think it is reasonable for my biz to have a "Depreciation Policy" (turbo tax lingo) that reads as follows:
"Board of directors declares, for simplification of accounting purposes and to maintain a lean organization, that asset purchases of $999.99 or less will be expensed; assets costing $1,000.00 or more will be depreciated."

In this day of age, my cell phone is just over a year old, but I'm thinking of buying another one since they are cheaper and I can stop my monthly insurance on the old one. It seems silly to declare a cell phone as anything but an expense.

What does TaxGuru think of my 1,000 policy?