Topic
Depreciation
73 published works
Agricultural Law and Taxation Blog
Deducting Residual (Excess) Soil Fertility – Does the Concept Apply to Pasture/Rangeland? (An Addendum)
OverviewNote: Last week I posted the following article. In response to numerous questions I have received over the past few months, I have now updated the article to address whether…
Agricultural Law and Taxation Blog
Does Using Old Tractors Mean You Aren’t a Farmer? And the Wind Energy Production Tax Credit – Is it Subject to State Property Tax?
OverviewTwo recent court opinions highlight how unique tax law can be. In a recent U.S. Tax Court decision, the court was faced with an IRS challenge of deductions largely because…
Agricultural Law and Taxation Blog
When Can Depreciation First Be Claimed?
OverviewA recent Tax Court opinion starts out with, “During 2015-2017 petitioners were actively engaged in the farming business, growing and selling corn and soybeans. In July 2015, after seeing an…
Colorado Family Law Lessons
The Importance of Distinguishing Between Depreciation and Accelerated Depreciation When Calculating Rental Income for Spousal Maintenance and Child Support in Colorado
I previously wrote here about the dissolution of marriage case between S.L.S. (Wife) and T.J.D. (Husband) and Wife's appeal of the district court judge's spousal maintenance and child support awards.…
Property Insurance Coverage Law Blog
Calculating Actual Cash Value and Depreciation in California
By Mark Dillman
Stemming from the McCarran-Ferguson Act of 1945, insurance is regulated by the states. Knowing variations of the law and regulations is a necessity for insurance professionals crossing state lines. These…
Agricultural Law and Taxation Blog
Expense Method Depreciation and Leasing – A Potential Trap
OverviewFor tangible depreciable personal property (and some types of qualified real estate improvements), all or part of the income tax basis can be deducted currently in the year in which…
Insurance Law Hawaii
South Caroline Holds Actual Cash Value Can Include Depreciation of Labor Costs
Answering a certified question, the South Carolina Supreme Court held that the insurer could calculate actual cash value (ACV) by including an estimate of the depreciation of embedded…
Tax
Foreign Rental Property Depreciation IRS (New)
By Board-Certified Tax Law Specialist
Depreciating Foreign Rental Property and IRS Rental Income Tax Rules Foreign Rental Property Depreciation Foreign Rental Property Depreciation & IRS Income Rules: The United States is one of the few…
Tax
Foreign Rental Income & Depreciation Rules for U.S. Tax
By Board-Certified Tax Law Specialist
Foreign Rental Income & Depreciation Foreign Rental Income & Property Depreciation Foreign Rental Income & Depreciation Rules for US Tax: The United States is one of the few countries that…
Lancaster Law Blog
CARES Act Fixes the TCJA’s Retail Glitch and Allows Depreciation of Improvements to Commercial Property and Restaurant Equipment
In the past few weeks, we have looked at many of the economic stimulus and consumer protection parts of the CARES Act. A minor section in the Act has also corrected the…