Depreciation and Amortization – IRS Tax Form 4562

Share on facebook
Share on twitter
Share on email
Share on whatsapp
Share on linkedin

What is Depreciation?

Depreciation is an annual tax deduction that allows a taxpayer to recover the costs of certain property over a number of years.  Depreciation and amortization is only applicable to fixed assets that has a useful life of over one year.  In order to be depreciable the property must meet all of the following requirements:

Diana McCalpin is an accountant who manages a Certified Public Accounting Practice in Laurel, Maryland which performs audit, accounting and tax services to customers. She loves to share information with clients to help them grow their businesses and be profitable.

Share this
Share on facebook
Facebook
Share on twitter
Twitter
Share on email
Email
Share on whatsapp
WhatsApp
Share on linkedin
LinkedIn

Leave a Reply

Close Menu

Subscribe to our Blog Feed