Assets that are subject to either the general depreciation system of IRC Section 168(a) or the alternative depreciation system of IRC Section 168(g) may be grouped in one or more general asset ...

Depreciation recapture is the process by which the IRS reclaims tax benefits previously obtained through depreciation when an investor sells a depreciable asset for more than its depreciated value.

Depreciation guidelines enable accountants to understand the importance of depreciable assets in operating activities and depreciation methods as well as the regulatory relevance of bookkeeping and ...

Tax season is nearly upon us. Most owner-operators are no doubt already in the thick of it, gathering information and documentation and mulling over choices with tax advisers and accountants. One of ...

Depreciation is the recovery of the cost of a physical asset, like property or equipment, over multiple years. It allows companies to spread out the cost of some expenses, reduce taxable income and ...

If you own a janitorial business, you have many tax deductions available to you. However, you also have depreciation available to you. Depreciation differs from deductions in that deductions take the ...

Earlier this month, the IRS proposed regulations regarding the additional first-year depreciation deduction that was added to the Code by the Tax Cuts and Jobs Act (“TCJA”).[i] The proposed rules ...

As a result of the disposition regulations that were finalized in 2014, taxpayers are able to claim a partial disposition of a building component and recognize a loss on their tax return in the year ...

Warren Buffett famously said, "The first rule of investment is don't lose, and the second rule of investment is don't forget the first rule." I find that owning real estate and taking advantage of ...