Independence Day legislation includes permanent full expensing for new and used aircraft used in business operations ...

GAAP Vs. MACRS. Corporate financial statements, such as income statements, cash flow reports and balance sheets, all employ generally accepted accounting principles, or GAAP, as the basis for ...

How to Calculate Mid-Month MACRS. The Internal Revenue Service allows companies to recover the cost of certain types of property through a yearly tax deduction called depreciation. This tax ...

The modified accelerated cost recovery system (MACRS) is the proper depreciation method for most assets. MACRS allows for greater accelerated depreciation over longer time periods.

It is reassuring the Fifth Circuit agrees that a reclassification of property under MACRS is nothing more than a change in useful life, which does not require a change in accounting method.