Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
1,507,576,609 visitors served.
forum mailing list For webmasters
?
New: Language forums
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

half-year convention

    0.07 sec.
half-year convention
The assumption for tax purposes that a newly acquired asset is placed in service halfway through the year regardless of when the asset is actually acquired and placed in service. The half-year convention affects annual depreciation, taxation, and earnings calculations.


How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
No references found
 
For example, for five-year MACRS property (assuming the half-year convention applies) acquired for $10,000 and placed in service in January 2001, the calculation for 2003 depreciation involved identifying the applicable rate from the table 6 for year 3 (0.
Calculating depreciation on a like-kind exchange or an involuntary ... by Mason, J. David / The Tax Adviser
Under the existing law, using the half-year convention, the asset's 2002 depreciation is $20,000.
Ready, set, depreciate: Highlights from the 2002 tax act by Josephs, Stuart R. / California CPA
A half-year convention is used by treating all package designs incurred during the year as having been incurred on the midpoint of the tax year.
Accounting for the costs of package designs by Schwarz, Melbert E. / Tax Executive
More results
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2009 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.