Qualified Reuse and Recycling Property will be the discussion point for this post on bonus depreciation. In just over a week, the 2010 New Year will be here and it will be time for us all to make our new years resolutions. For many people, that may be exercising more, making the world a better [...]
For those businesses that have sold any business property within the last year, the appropriate IRS form needed for filling would be IRS form 4797. Several reasons to use this form are stated below as they appear on the IRS website. Also, it is important to note that for 2009 filing, there are some new [...]
As the year of 2009 comes to an end, we would like to remind you that so too do many opportunities to take advantage of extended bonus depreciation allowances. Recall that under the 2008 Economic Stimulus Act, allowable bonus depreciation was increased to the amount of 50%. This allowance was again extended through the end [...]
IRS Tax Form 4562 will begin a new series of posts covering the various tax forms and publications offered by the IRS when filing for depreciation and amortization expenses. Form 4562 is used by a business to report the deductible expense related to any business property purchased during the given tax year. Business property includes [...]