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Tax Insight: For Tax Year 2014 and Beyond, THIRD EDITION by M.Casey Murdock

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CHAPTER 22

Depreciation

Very Complex Tax Rules Boiled Down into Fairly Simple Terms

The rules governing depreciation are very complex, complicated, and convoluted. To give you an idea of how complex they really are, one of the ­premier guides on depreciation written for tax professionals, the U.S. Master Depreciation Guide, by CCH, is more than 1,000 pages long! Because of the vast number of details and nuances regarding depreciation, I am not going to attempt to give you 1,000 pages worth of information summed up into a 10-page chapter. Instead, this chapter will help you understand the general concept of depreciation and then focus on three key things that you will need to understand as you pursue your tax strategy. The subjects covered in ...

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