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In accrual basis accounting, when your business purchases a long-lived asset, such as a vehicle, a building or a piece of equipment, you don't immediately write off the full cost as an expense. Rather ...

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 ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Eric's career includes extensive work ...

Under the Modified Accelerated Cost Recovery System, the half-year depreciation convention generally applies to personal property. Under this convention, only a half-year of depreciation is allowed ...

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

The Jobs and Growth Tax Relief Reconciliation Act of 2003 allows a taxpayer to claim a bonus first-year depreciation allowance equal to 50 percent of the adjusted basis of qualified property. However, ...