2005 U.S. Master Depreciation Guide [Paperback]

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Book Description

Publication Date: 2005

Old depreciation systems do not die--or even fade away very fast. Businesses and the practitioners that serve them must operate with three coexisting depreciation systems--Modified Accelerated Cost Recovery System (MACRS), the Accelerated Cost Recovery System (ACRS) and the Treasury Department's Asset Depreciation System (ADR). CCH's U.S. Master Depreciation Guide offers tax and accounting professionals who work with businesses a one-stop resource for guidance in understanding and applying the complex depreciation rules to their fixed assets. This area is especially challenging, because bits and pieces of applicable information must be gathered from a maze of Revenue Procedures, IRS Tables and IRS Regulations. These sources are frequently old and include some materials which may be non-applicable. CCH's U.S. Master Depreciation Guide pulls the pieces together, so practitioners can make sense of all the corresponding information and put the information into practice. Published annually, this new edition has been completely updated to reflect the many significant depreciation rule changes that have gone into effect since publication of the last edition. These changes include: Temporary MACRS like-kind exchange regulations that obsolete IRS Notice 2000-4. These detailed regulations include guidance on the interaction between the luxury car depreciation caps and the like-kind exchange rules. A taxpayer may elect not to apply the regulations. Final regulations governing change-in-use computations. These regulations apply in situations where property is converted from personal to business use (or vice versa) and when a change in a property's use results in a different MACRS recovery period or MACRS depreciation method. Temporary regulations which explain how to change or revoke a Code Sec. 179 election without IRS consent on property placed in service in a tax year beginning in 2003, 2004, or 2005.

#outer_postBodyPS { display: none; } #psGradient { display: none; } #psPlaceHolder { display: none; } #psExpand { display: none; } Old depreciation systems do not die--or even fade away very fast. Businesses and the practitioners that serve them must operate with three coexisting depreciation systems--Modified Accelerated Cost Recovery System (MACRS), the Accelerated Cost Recovery System (ACRS) and the Treasury Department's Asset Depreciation System (ADR). CCH's U.S. Master Depreciation Guide offers tax and accounting professionals who work with businesses a one-stop resource for guidance in understanding and applying the complex depreciation rules to their fixed assets. This area is especially challenging, because bits and pieces of applicable information must be gathered from a maze of Revenue Procedures, IRS Tables and IRS Regulations. These sources are frequently old and include some materials which may be non-applicable. CCH's U.S. Master Depreciation Guide pulls the pieces together, so practitioners can make sense of all the corresponding information and put the information into practice. Published annually, this new edition has been completely updated to reflect the many significant depreciation rule changes that have gone into effect since publication of the last edition. These changes include: Temporary MACRS like-kind exchange regulations that obsolete IRS Notice 2000-4. These detailed regulations include guidance on the interaction between the luxury car depreciation caps and the like-kind exchange rules. A taxpayer may elect not to apply the regulations. Final regulations governing change-in-use computations. These regulations apply in situations where property is converted from personal to business use (or vice versa) and when a change in a property's use results in a different MACRS recovery period or MACRS depreciation method. Temporary regulations which explain how to change or revoke a Code Sec. 179 election without IRS consent on property placed in service in a tax year beginning in 2003, 2004, or 2005.

Product Details

Paperback
Publisher: CCH (2005)
ISBN-10: 0808012207
ISBN-13: 978-0808012207
Amazon Best Sellers Rank: #6,467,072 in Books (See Top 100 in Books)

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