Tax

Tag: Depreciation

  • Depreciation

    Depreciation means: an accounting technique in which the cost of an asset is allocated over its useful life. A deduction to reflect the gradual loss of value of business property as it wears out. Former IRC (check if this IRC provision is current here) §167. See Accelerated Cost Recovery […]

  • Federal Tax Deductions

    Federal Tax Deductions This entry provide you with analysis and compliance guidance on every aspect of federal tax deductions, including itemized deductions, at-risk rules, charitable contributions, bad debts, and more. This area includes the following topics: Alimony| Bad Debts| Bribes and Kickbacks| Charitable Contributions| Dependency Exemptions| Depreciation| Dividends| Domestic Production Deduction| Educational Expenses| Equipment Leasing|…

  • Unrecaptured Section 1250 Gain

    Unrecaptured Section 1250 Gain When a depreciable asset is sold, the depreciation that has been allowed or allowable may be subject to recapture. When depreciation is recaptured, some or all of the taxable gain from the sale is taxed at ordinary income tax rates instead of the more favorable capital gain rates. For depreciable real…

  • Tax Deduction

    Tax Deduction means:a reduction of taxable income. An amount (often a personal or business expense) that reduces income subject to tax. See also other Tax Terms and Definitions in U.S.A. tax credit; tax deductible; and specific deductions, such as interest deductions and medical expense deducti…

  • Federal Estate Tax Deduction

    Federal Estate Tax Deduction means:an itemized deduction to which a beneficiary who receives income in respect of a decedent and is required to include the amount in taxable income is entitled for the portion of the federal estate tax that is allocable to that income. See <a href="http://lawi.us…