2 ms·
Whether or not it's legal isn't the point of the article though. It even highlights how they're using recent changes in the tax code to claim depreciation on a
by llbeansandrice 5y ago
Whether or not it's legal isn't the point of the article though.
It even highlights how they're using recent changes in the tax code to claim depreciation on assets that either don't actually depreciate or the value is highly subjective.
It's a lot more than just "Oh boo boo is us our asset lost value last year so now we don't have to pay taxes".
- kristjansson 5y agoIts not that its lost value, its when a capital expense is recognized as an operating expense... Also, capital gains are assessed relative to the depreciated price of the asset, so if there is a wild divergence between that and market value, the owner will pay a huge tax bill on sale.