Treating Capital as Expenses during the first year

I believe that during the first year of operations a new LLC can treat all capital (up to $50,000) as expenses instead of having to amortize over 180 months. I have 3 questions related to this:

1. Is this correct?
2. If correct, in starting 07/23/2013 am I limited to capital items purchased and paid for (cash method accounting) by 12/31/2013 (tax year end) or does the "first year of operations" allow purchases up to 07/22/2014 to be expensed? If so then this would cover the 2013 and 2014 tax filings.
3. Is a computer tablet costing around $500-600 considered capital?

I'm guessing, since it hasn't occurred to you to mention, that you're from the US. The answer depends on the jurisdiction, and I think on this forums only the USans assume their country is the only one in the world.

Is this correct?

Capital is never expense. Expense is expense.

You're confusing different things. Start-up expenses (i.e.: expenses prior to incorporation, generally speaking, not after it already happened) can be deducted for tax purposes up to a certain limit, after which they should be capitalized for 180 months. Here's an explanation from sba.gov.

Talk to your tax adviser.