The Internal Revenue Service considers any auto with an unloaded gross weight of 6,000 pounds or less a luxury vehicle. It gives you two ways to depreciate a luxury auto used for business purposes.

Depreciation is an accounting tool used to spread the cost of valuable assets over a number of accounting periods. Rather than incurring the entire expense in a single period, business owners can ...

In practice, depreciation does not eliminate tax cost over time. It merely redistributes it. When an asset is eventually disposed of, depreciation recapture comes into play, a mec ...

Add Yahoo as a preferred source to see more of our stories on Google. There are distinct advantages real estate investments deliver that other investments just can't offer. These include rental income ...

When companies invest in assets, they expect those assets to last a certain number of years. Over time, they’re depreciated based on their remaining serviceable life and any potential saleable value ...

What is depreciation? Learn how it works, the main methods and how it impacts your business taxes and accounting.

The IRS on Friday provided information to taxpayers about changes in the use of standard mileage rates and increased depreciation limits for passenger automobiles as a result of P.L. 115-97, known as ...

Recoverable depreciation is only applicable for replacement cost value (RCV) policies and allows policyholders to recoup the difference between the actual cash value (ACV) and RCV, after providing ...

As the new year begins, many people are beginning to think about possible tax planning strategies to use in 2022 that could reduce their tax bill next year. While a plethora of strategies are ...

On Friday, the IRS issued revised numbers for the amount of depreciation taxpayers can take for the first year they use a passenger automobile (including a truck or van) for business in 2014 and the ...