Depreciation is a concept and a method that recognizes that some business assets become less valuable over time and provides a way to calculate and record the effects of this. Depreciation impacts a ...

Accelerated depreciation allows businesses to write off the cost of an asset more quickly than the traditional straight-line method. This can provide asset owners with potentially valuable tax ...

Assets like equipment, vehicles and furniture lose value as they age. Parts wear out and pieces break, eventually requiring repair or replacement. Depreciation helps companies account for the ...

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 ...

The Treasury has issued final regulations (Treasury Decision 9314) explaining how to depreciate modified accelerated cost recovery system (MACRS) property that has been acquired in a section 1031 like ...

The IRS issued procedures Friday for how taxpayers can take advantage of the recently enacted technical correction to the rules for qualified improvement property (QIP) (Rev. Proc. 2020-25). Qualified ...

New vehicle prices give some car shoppers sticker shock, especially when they realize that the value of their new ride significantly drops the moment it’s driven off the dealer’s lot. A vehicle’s loss ...

Electric car sales experienced a slight decline in 2024 due to several noteworthy factors, resulting in a trend reversal compared to previous years. One of the major issues affecting the market was ...