The Internal Revenue Service sets the depreciation allowance based on the Code as promulgated by Congress. The most commonly referenced section is 179. This is a form of accelerated depreciation allowing the small business owner the opportunity to take a large expense deduction and reduce their tax obligation immediately.
When it comes to depreciation, no two businesses are alike. Unlike traditional straight line depreciation where the asset value is cost out to depreciation expense in equal increments over a given life expectancy, accelerated depreciation […]