Continuing with the segment on Bonus Depreciation, this post will address depreciation rules for property in the New York Liberty Zone. A little over eight years ago, the atrocious events of September 11 left our country devastated physically, emotionally, and economically. With regards to the economic turmoil that ensued, particularly in the area of the [...]
Bonus Depreciation has become a hot topic and has seen many changes over the last decade. There are also continuing debates as to how effective it really is. However, we will attempt to clarify the issues of bonus depreciation by covering all the aspects and history. Continuing from the initial post on Bonus Depreciation and [...]
There are two basic different methods of depreciation to choose from when depreciating an asset. These methods include Straight-line, and Declining Balance at either 200% or 150%. Choosing among these methods depends on how a company wishes to receive depreciation expenses.
The Straight-Line method is generally the most commonly used method due to its simplicity [...]