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 ...

What is depreciation? Learn how it works, the main methods and how it impacts your business taxes and accounting.

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 ...

New amendments to two international accounting standards published Monday clarify acceptable methods of depreciation and amortization. To clarify appropriate methods, the International Accounting ...

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: ...

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 ...

When a company acquires assets, those assets usually come at a cost. However, because most assets don't last forever, their cost needs to be proportionately expensed based on the time period during ...

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 ...

The new tangible property regulations form a framework of rules for the capitalization of tangible property that affects the treatment of fixed asset additions and disposals, the expensing of ...

On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...