Learn how the general depreciation system (GDS) works within MACRS, its methods, tax implications, and how it accelerates asset depreciation.

Discover the difference between economic and accounting depreciation and learn how each affects asset valuation and financial decisions.

As an entrepreneur, you know that most industries require at least some startup costs. The IRS understands this and has set certain rules about what you can and can’t deduct and how to claim these ...

In accrual basis accounting, when your business purchases a long-lived asset, such as a vehicle, a building or a piece of equipment, you don't immediately write off the full cost as an expense. Rather ...

Accounting for depreciation can be a helpful accounting trick when businesses make a major purchase. Depreciation has several different meanings, depending on the context in which it’s being used.

Tax credits are important for businesses aiming to maximize profitability and sustainable growth. Bonus depreciation is a key tax provision that has gained considerable attention. It enables companies ...