depreciable basis

See basis.

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Declining Balance Method of Depreciation

References in periodicals archive ?

As a result, taxpayers will have to track the difference in the depreciable basis for state and federal purposes, as well as requesting guidance on how to treat a federal income recognition event as an unrecognized income event for California purposes.

Tax Conformity? State May Get in Line with Parts of TCJA Changes

The election permits the owner to recognize a loss equal to the adjusted depreciable basis of the disposed portion of the building.

Cost segregation studies more valuable than ever before

Since a trade-in is treated as an exchange, any gain or loss is absorbed into the replacement vehicle's depreciable basis, thereby avoiding any current taxable gain or reportable loss.

Replacing the company rig: trading, selling create different tax issues

Applying the MPGE 20% safe harbor to qualified films: Under existing regulations, a film may be treated as a qualified film produced by the taxpayer if (1) at least 50% of the total compensation for services paid by the taxpayer is compensation for services performed in the United States and (2) the direct labor and overhead of the taxpayer to produce the film account for at least 20% of the taxpayer's cost of goods sold or unadjusted depreciable basis of the film (i.e., the taxpayer can satisfy the 20% labor and overhead safe harbor in Regs.

Proposed and temporary sec. 199 regulations address a wide variety of issues

The final regulations made two clarifications of the 2013 proposed rules: 1) how to determine the unadjusted depreciable basis of a disposed asset in a general or multiple asset account or a disposed portion of an asset, and 2) how to make certain elections on the disposition of assets included in a general asset account when the demolition of structures (IRC section 280B) applies.

Cost segregation and the final regulations: clarification for calculating asset dispositions

Should businesses not file the applications and undergo an audit, they risk losing their deduction for the remaining depreciable basis that should have already been taken to date.

Capture tax opportunities within the final tangible property regulations

The new regulations permit Mary to deduct the adjusted depreciable basis of the old roof.

New IRS rules may offer tax breaks for property owners

The regulations define "remaining adjusted depreciable basis" as the unadjusted depreciable basis of qualified property reduced by the amount of bonus depreciation allowed or allowable.

Business autos and 100% bonus depreciation

If property is used in an individual's trade or business as well as in a personal or tax-exempt activity during a taxable year, the depreciable basis is determined by multiplying the unadjusted basis, as figured above, by the percentage of time the property was used in the trade or business.

Chapter 16: Cost recovery concepts

This allowance is an additional deduction of 50 percent of the property's depreciable basis after any Section 179 deduction and before figuring a regular depreciation deduction.

Conserve working capital: tax benefits of leasing equipment may be overlooked

If A acquired Building Two under this scenario, it would have a depreciable basis of $7 million rather than $2 million.

How low can you go? New capital gains tax rates pose interesting choices for exchangers

The allowance is an additional deduction of 30% of the property's depreciable basis. This means you can deduct $15,000 for a $45,000 piece of equipment, then depreciate the remaining $30,000 as you normally would.

A less taxing bite on small business: these strategies can help reduce Uncle Sam's cut of your venture. (Management Advice)