When your company purchases a fixed asset with an estimated lifetime exceeding one year, you cannot deduct the entire cost in the year of purchase. Rather, you must depreciate the asset by expensing a ...

Depreciation is how the costs of tangible and intangible assets are allocated over time and use. Both public and private companies use depreciation methods according to generally accepted accounting ...

Learn how to calculate the written-down value (WDV) to determine the current worth of an asset after depreciation or amortization, also known as book value.

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 ...

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

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 ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Toby Walters is a financial writer, investor, and lifelong learner.

It's not that Uncle Sam does not want your clients to deduct those big-ticket items that are critical to running almost any business. The less cynical among us would nod and agree with the Internal ...

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: ...

The Treasury Department and the IRS have issued guidance that provides a safe harbor method for determining depreciation deductions for passenger automobiles that qualify for the 100-percent ...