Bookkeeping – Book and Tax Depreciation (Lesson 52)

Book and Tax Depreciation

One of the differences between book income and taxable income is depreciation.  In general Section 168 of the Internal Revenue Code allows businesses to accelerate their depreciation for tax purposes.  This increases the expenses of the business thus reducing profit for tax purposes.

This content is for Bronze, Silver, One-Time and Contractor’s Diagnostic members only.
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