With the exception of land, all tangible property generally loses value over time because it deteriorates (e.g., buildings or vehicles), becomes obsolete (e.g., computers) or loses protection against competition (e.g., […]
Tag: depreciation
What Does Depreciation Mean to Your Construction Business?
Each time your construction company prepares its financial statements, you can record a depreciation expense. This spreads out the initial price of an asset over the course of its useful […]
Tax Depreciation Rules For Business Automobiles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles […]
Accounting For Property, Plant And Equipment Assets
Businesses and not-for-profit entities capitalize machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to […]
Drive More Savings To Your Business With The Heavy SUV Tax Break
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions Cars are subject to more […]