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  2. Section 179 depreciation deduction - Wikipedia

    en.wikipedia.org/wiki/Section_179_depreciation...

    If, for example, the taxpayer's net trade or business income from active conduct of trade or business was $72,500 in 2006, then the taxpayer's § 179 deduction cannot exceed $72,500 for 2006. However, the § 179 deduction not allowed for any year because of this limitation can be carried over to the next year.

  3. Learn How Car Depreciation Is Calculated and Why It's ... - AOL

    www.aol.com/learn-car-depreciation-calculated...

    Car Depreciation for Tax Purposes You may also be able to deduct your car's depreciation on your tax return. There are several methods accountants use to evaluate the type of depreciation, including:

  4. Is Car Loan Interest Tax Deductible? - AOL

    www.aol.com/finance/car-loan-interest-tax...

    Car loan interest isn’t the only tax-deductible expense for business vehicles. If you don’t use the standard mileage rate , you may be able to deduct actual car expenses. According to the IRS ...

  5. MACRS - Wikipedia

    en.wikipedia.org/wiki/MACRS

    Special rules have also applied for bio fuel, recycling, and disaster assistance property. [9] Decoupling modification is a tax terminology resulting from the federal tax law enacted March 9, 2002, which created a new tax deduction for "bonus depreciation" that threatened to cost states very large amounts of revenue. [10]

  6. Is Vehicle Sales Tax Deductible? What You Need To Know - AOL

    www.aol.com/vehicle-sales-tax-deductible-know...

    Make a choice between state/local income tax or local sales/use taxes. ... Your household can deduct up to $10,000 of sales tax per year. This $10,000 cap includes local, state, property and sales ...

  7. Half-year convention - Wikipedia

    en.wikipedia.org/wiki/Half-year_convention

    For tax accounting, Half-year convention is a principle of United States taxation law. Certain property is subject to depreciation. Depreciation allows one to deduct a certain amount of the value or basis of depreciable property per taxable year. A person with depreciable property must know when to start depreciating their property.

  8. Car depreciation: What it is and how it works - AOL

    www.aol.com/finance/car-depreciation-works...

    Car depreciation is an inevitable part of the cost of car ownership, but that doesn’t mean you have to be at its mercy. A few fairly simple habits can help to minimize depreciation and preserve ...

  9. Depreciation - Wikipedia

    en.wikipedia.org/wiki/Depreciation

    An asset depreciation at 15% per year over 20 years. In accountancy, depreciation is a term that refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the ...