If you take a bite into an apple and let it sit, over time, the bite mark will begin to brown. That browning is a lot like "depreciation." Depreciation in accounting means to spread the cost of buying ...

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 ...

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 ...

Legislation passed in 2025 can provide significant additional tax savings for individuals who own rental properties or ...

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 ...

ITAT Mumbai dismisses Revenues appeal, ruling that Goodwill from a High Court-approved amalgamation is a depreciable intangible asset under Section 32, rejecting the claim that it represents ...

The Treasury Department and the IRS have issued guidance that provides a safe harbor method for determining depreciation deductions for passenger automobiles that qualify for the 100-percent ...

Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...