Peter Gratton, Ph.D., is a New Orleans-based editor and professor with over 20 years of experience in investing, economics, and public policy. Peter began covering markets at Multex (Reuters) and has ...

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 ...

Your company may purchase long-lived assets such as property, plant and equipment that you depreciate over their useful lives. Depreciation is how the Internal Revenue Service allows you to expense ...

Assets like equipment, vehicles and furniture lose value as they age. Parts wear out and pieces break, eventually requiring repair or replacement. Depreciation helps companies account for the ...

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 ...

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 ...

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 ...

Depreciation is the recovery of the cost of a physical asset, like property or equipment, over multiple years. It allows ...

As the new year begins, many people are beginning to think about possible tax planning strategies to use in 2022 that could reduce their tax bill next year. While a plethora of strategies are ...

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: ...

On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...