Topic
Depreciation
74 published works
Property Insurance Coverage Law Blog
What Do Chip Merlin’s Old Dress Shoes, New Sailing Shoes, and Weber Grill Have to Do With Replacement Cost Value, Actual Cash Value and Depreciation of Labor?
By Chip Merlin
What is the replacement cost value of my classic brown dress shoes? How would you go about determining their actual cash value? You can see them in the photo above…
Property Insurance Coverage Law Blog
Hot Off the Insurance Law Coverage Press—DO NOT DEPRECIATE LABOR TO ARRIVE AT ACTUAL CASH VALUE!
By Chip Merlin
Shane Smith wrote about a big policyholder win against Allstate in this weekend’s post, Another Court Ruling on Improper Depreciation of Labor. Today, the same Court of Appeals ruled the…
Property Insurance Coverage Law Blog
Does North Carolina Allow Depreciation of Labor When Determining Actual Cash Value?
By Chip Merlin
Depreciation of labor when determining actual cash value is being raised in cases throughout the country with mixed results. In, Tennessee Tornado Terror and The Insurance Claim Aftermath, I noted…
Property Insurance Coverage Law Blog
Can Labor Be Depreciated? Class Action Lawsuit Cites this Blog!
By Chip Merlin
A class action lawsuit filed against Allstate in South Carolina raises the newly raised practice by some insurers of depreciating labor when repairs are made.1 I thought that the lawsuit…
Property Insurance Coverage Law Blog
Calculating Actual Cash Value in South Carolina
By Shane Smith
South Carolina courts have not used the phrase “broad evidence rule” in addressing actual cash value, and the South Carolina Department of Insurance considers actual cash value to be the…
The CPA Desk
How Section 179 Depreciation Deduction Affects Businesses
There’s good news about the Section 179 depreciation deduction for business property. The election has long provided a tax windfall to businesses, enabling them to claim immediate deductions for qualified…
Zalma on Insurance
When a Court Proves Itself Ignorant of Construction Reality True Indemnity Suffers
By Barry Zalma
Tennessee Supreme Court Finds Ambiguity in the term “Depreciation” A building is made up of products: lumber, nails, steel, roofing, siding, plaster, dry wall, etc. Standing alone the products are…
Tennessee Insurance Litigation Blog
TN Supreme Court Rules Labor Cannot be Depreciated
For the past few years, I've been involved in several labor depreciation cases around the Southeast, including one right here in Tennessee against Auto-Owners. The threshold legal question in that…
Property Insurance Coverage Law Blog
Can Labor Be Depreciated When Considering Actual Cash Value?
By Chip Merlin
In an opinion issued yesterday, the Tennessee Supreme Court held that labor cannot be depreciated when considering actual cash value.1 Merlin Law Group participated in this victory for policyholders by…
Agricultural Law and Taxation Blog
Cost Segregation – Risks and Benefits
OverviewRecently, I devoted a blog post to the benefits of a farming or ranching operation from the utilization of a cost segregation study. https://lawprofessors.typepad.com/agriculturallaw/2019/03/cost-segregation-study-do-you-need-one-for-your-farm.html. That post generated a great deal…