depreciation schedule

• Congress asked to renew depreciation schedule.

WASHINGTON -- Industry business leaders are calling on Congress to renew the depreciation laws tied to the Economic Stimulus Act of 2008, which allowe...

• Printed Circuit Design & Fab
• Vol. 26 Nbr. 2, February 2009

• Bjc Wants Boone Hospital Lease Extended

BJC HealthCare's lease to operate the county-owned Boone Hospital Center doesn't expire until 2015, but BJC officials want to extend the current agreement now to provide more time to spread out the cost of equipment purchases. Robert Wagner, treasurer of the Boone Hospital Board of Trustees, said BJC sought the lease extension to avoid adverse financial effects. A change in accounting rules and an accelerated depreciation schedule on equipment purchases could have an "adverse impact on their balance sheet," Wagner said.

• Columbia Daily Tribune
• December 06, 2011

• Saginaw Bay Pipeline Company V. United States: Saginaw Wins the Pipeline Depreciation Battle, but Is the War Over?

Saginaw Bay Pipeline Company (Saginaw Bay), an entity formed under a subsidiary of the Michigan Consolidated Gas Corp, operated a 126-mile underground, steel pipeline network constructed to transport "raw" or "wet" natural gas. As such, the company depreciated the asset over seven years under the Modified Accelerated Cost Recovery System (MACRS). The IRS challenged Saginaw Bay's use of this seven-year recovery period, maintaining a fifteen-year depreciation schedule was appropriate. In doing so, it disallowed $3,474,244 worth of depreciation deductions taken by the company. The overt issue for the Sixth Circuit Court of Appeals was whether Saginaw Bay's subterranean natural gas pipeline system should be depreciated over a seven-year period as opposed to a fifteen-year period. In conclus...

• Energy Law Journal
• Vol. 27 Nbr. 1, January 2006

• Important Decision for Llc's First Year

In 2008 and 2009, I claimed a home-office deduction for an office and garage exclusively used to run my consulting business. The deduction on Schedule C for household expenses and depreciation was based on the percentage of square footage as compared with the total square footage of the house (about 15 percent). In 2010 I formed an LLC for the same business. The LLC paid rent to me throughout 2010 (the rent is fair; I consulted with a Realtor). Do I continue to claim home office expenses and depreciation for the garage and office on Schedule C, or do I now use them to offset the rental income on Schedule E? Does it even matter, since everything is ultimately reported on my personal income tax return?

• The Record, Bergen County, NJ
• March 02, 2011

• 30 CFR 206.111 - How do I determine a transportation allowance if I do not have an arm's-length transportation contract or arm's-length tariff?

...(3) Depreciation under paragraphs (g) and (h) of this section;. (4)... costs, legal fees, and other costs to schedule, nominate, and account for sale or movement of pro...

• Code of Federal Regulations - Title 30: Mineral Resources

• Goodrich Wins Big Cut in Tax Bill

Hodgson says the assessor's office issued that new valuation after representatives from its office and the Washington state Department of Revenue (DOR) met with Goodrich officials, toured the West Plains plant, and the DOR decided to have the county use a different depreciation schedule to value the equipment there.

• Journal of Business; Spokane
• August 28, 2009

• Disaster, Terrorism, Reform-Hot Topics at Big 'I' Event

April in Washington, DC, brings to the US' capital the Independent Insurance Agents and Brokers of America's (IIABA) National Legislative Conference. This year, for the first time, the IIABA combined the lobby-palooza with its annual convention. As participants gathered to discuss issues, network, exhibit, attend workshops and meet with legislators, foremost on their minds were natural disasters, terrorism insurance, regulatory reform and tax reform. Tom Minkler, Big "I" government affairs committee chairman, called regulatory reform of the insurance industry "the No. 1 issue" to discuss with members of Congress. Brendan Reilly, assistant VP of governmental affairs, urged support for H.R. 4960, the Tax Fairness for Small Business Act of 2006, because it modernizes and shortens the depre...

... it modernizes and shortens the depreciation schedule for intangible assets. Reilly explained t...

• American Agent & Broker
• Vol. 78 Nbr. 6, June 2006

• Technological obsolescence may result in reduced personal property tax assessments.

Business taxpayers have been able to reduce state personal property tax assessments on computers based on technological obsolescence. In cases in Michigan, Virginia, Washington and Colorado, courts have sided with taxpayers that have argued that technological advances have made the equipment taxpayers were being taxed on depreciate substantially faster that the state's depreciation schedule assumed. The rulings resulted in downward adjustment to reflect the changed fair market value. An Arkansas court denied a fair market value adjustment for obsolescence.

• The Tax Adviser
• Vol. 26 Nbr. 6, June 1995

• 18 CFR 154.312 - Composition of Statements.

...PART 154: RATE SCHEDULES AND TARIFFS. Subpart D: Material To Be Filed With ...: operation and maintenance expenses, depreciation, taxes, credits to cost-of-service, and return as ...

• Code of Federal Regulations - Title 18: Conservation of Power and Water Resources

• Can the cost of a home computer be written off?

The deductibility or depreciability of a home computer depends on the activities it is being used for and how the taxpayer elects to have it treated. Current expense deduction of the entire cost is available under IRC section 179 only if used at least 50% of the time for business. If the computer is used primarily to manage investments, the depreciation amount is subject to the 2% itemized deduction floor. Trade or business depreciation is reported on Schedule C. For an employee to depreciate or expense the computer, the purchase must be for the convenience of the employer and must be a required condition of employment.

• The Tax Adviser
• Vol. 27 Nbr. 4, April 1996