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 … Read more

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 Categories , F Tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , Leave a comment