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The third, the “mid-quarter convention,” assumes that all property placed into service, or disposed of, during any quarter of a taxable year was placed into service, or disposed of, at the midpoint of that quarter. (§ 168(d)(4)(C)) Section 168(d)(3) tells a taxpayer when it is appropriate to use the mid-quarter convention.
Under § 168(d)(3) of the Federal Income Tax Code, if a taxpayer purchases a lot of depreciable assets in the last three months of the taxable year, they may be forced to use the less beneficial "mid-quarter convention". This convention treats such property as placed into service in the midpoint of the last quarter of the taxable year.
Real property is considered placed in service in the middle of the month in which acquired ("mid-month convention"). Special rules apply for pro rating deductions for short tax years and for the first year of business, or where more than 40% of tangible personal property additions are in the final quarter of the year. [5]
Charles River Associates (CRA) to Host Second-Quarter 2013 Financial Results Conference Call on July 25 Conference Call to be Webcast Live at 9:00 a.m. ET BOSTON--(BUSINESS WIRE)-- Charles River ...
Charles River Associates (CRA) Announces Third-Quarter 2012 Financial Results Conference Call Company to Webcast Conference Call Live On October 25 BOSTON--(BUSINESS WIRE)-- Charles River ...
Charles River Associates (CRA) Announces Third-Quarter 2012 Financial Results Company Completes Majority of Planned Restructuring Activities and Delivers Solid Performance During Third Quarter ...
One half of a full period's depreciation is allowed in the acquisition period (and also in the final depreciation period if the life of the assets is a whole number of years). United States rules require a mid-quarter convention for per property if more than 40% of the acquisitions for the year are in the final quarter.
Charles River Associates (CRA) Announces Fourth-Quarter and Full-Year Fiscal 2012 Financial Results Company Delivers Solid Fourth-Quarter Performance; On Track For Previously Announced Savings ...