It's Not What You Buy, It's When You Buy It

Daks, Martin C.
November 2005
njbiz;11/14/2005, Vol. 18 Issue 46, p19
Focuses on the advantage of buying assets and putting it on service at the end of the year to companies that intend to depreciate their asset and reduce tax liability in the U.S. Rules posed by the Internal Revenue Service (IRS) code for the depreciation period of the assets; Maximum amount that companies could write off under the IRS section 179; Actions taken by the IRS to ensure that companies will not wait until the end of the year to make purchases.


Related Articles

  • Depreciating like-kind property. Stevens, Michael G. // Practical Accountant;Mar2000, Vol. 33 Issue 3, p27 

    Focuses on the United States Internal Revenue Service's issuance of a definitive guidance for depreciating property that has been acquired in an exchange under either Section 1031 or Section 1033. Break for older property; Automatic change in method; Chance for clients to receive a tax benefit;...

  • TAX BRIEFING.  // Practical Accountant;May2006, Vol. 39 Issue 5, p12 

    The article reports developments related to taxation in the U.S. Limitations on depreciation deductions for owners of passenger automobiles first placed in service by the taxpayer during calendar year 2006 are provided by Revenue Procedure 2006-18. Revised final regulations modifying several...

  • Cars and Trucks as Business Expenses. Evans, Caroline // Maine Antique Digest;Oct2011, Vol. 39 Issue 10, p22B 

    The article offers information on the expenditures of antique business for cars and trucks. It says that the said expenses can greatly constitute on the deductions in tax in small businesses. It states that the U.S. Internal Revenue Services (IRS) has two ways in deducting truck and car expenses...

  • International Taxation. Cummings, Jack; Rowe, Kevin // Corporate Business Taxation Monthly;Nov2005, Vol. 7 Issue 2, p9 

    The article discusses the United States Internal Revenue Service's release of more guidance under the Internal Revenue Code Section 965 dividends received deduction enacted in the American Jobs Creation Act of 2004. It discusses the background of Code Section 965. Notice 2005-38 deals with the...

  • Part IV. Items of General Interest.  // Internal Revenue Bulletin;10/11/2011, Vol. 2011 Issue 41, p503 

    The article offers information on various decisions of the U.S. Internal Revenue Service (IRS) under the 1986 Internal Revenue Code. It mentions an announcement regarding the deletions from the list of organizations of contributions deductible under section 170 of the Code, and the new Voluntary...

  • CORRECTION.  // California CPA;Dec2012, Vol. 81 Issue 6, p4 

    A correction to the article on the 2012 U.S. Internal Revenue Code Section 179 Deduction in the November 2012 issue is presented.

  • No Abandonment Loss for Stock Offering Costs.  // Federal Tax Course Letter;Oct2013, Vol. 27 Issue 10, p11 

    The article focuses on the Field Attorney Advice 20133101F on August 7, 2013 regarding the abandonment loss for costs obtained in an attempted stock offering. It mentions that based from the U.S. Internal Revenue Service (IRS), taxpayers cannot claim an abandonment loss deduction for stock...

  • IRS adds tax tables to Web site.  // Hudson Valley Business Journal;1/10/2005, Vol. 16 Issue 1, p19 

    The article reports that the tax law that authorizes optional deduction for state and local sales tax instead of state and local income tax was enacted too late in the year to include in the U.S. Internal Revenue Service (IRS) tax instruction booklets. The TRS Publication 600, Optional State...

  • Artists' Tax Deductions: Telling the IRS When You Mean Business.  // Art Papers;Nov/Dec88, Vol. 12 Issue 6, p68 

    The article discusses Section 183 of the Internal Revenue Service (IRS) Code in the U.S., enacted to prevent the deduction of excess losses from activities not engaged in for profit, such as recreational painting and the like. Deductions connected with an artist's hobby that will be restricted...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics