Taxation Flashcards
1
Q
MACRS depreciation rules
A
CAT - 5yr, 1245 (computer, Auto, truck)
O -7 yr, 1245 (office furniture/ equipme)
R - 27.5, 1250 (residential real prop)
N - 39, 1250 (non residential real prop)
2
Q
Straight Line depreciation
A
Reduce by salvage value / #years= annual depreciation amount
