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Tuesday, Dec. 13

Depreciation – Depreciable And Amortizable Assets, #101

Almost every business must invest in some major equipment, vehicles, machinery, or furniture in order to operate. Major assets that your business uses for longer than a year are called "capital assets" and are subject to special tax treatment. You generally can't deduct the whole cost of acquiring a capital asset for your business in the year you acquire it because an accounting goal is to accurately measure a business's gross income, expenses, and net…

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