U.S. Master Depreciation Guide (2024) eBook

Author(s): CCH Tax Law Editors

Published: Jan 19, 2024

ISBN: 9780808059707
Product Number: 10024484-0011
Volumes: 1
Update Frequency: Annually

List Price: $395.00

United States depreciation law is complex, with three coexisting systems and provisions scattered throughout IRS publications, Modified Accelerated Cost Recovery System (MACRS), the Accelerated Cost Recovery System (ACRS), and the Treasury Department’s Asset Depreciation System (ADR). The U.S. Master Depreciation Guide (2024) is a one-stop resource for tax professionals seeking to understand and apply depreciation rules. The guide is updated annually with comprehensive discussions of all three systems, handy reference tables, relevant information, and more, making it the ideal desk companion for practitioners.

Features of the U.S. Master Depreciation Guide (2024)

The U.S. Master Depreciation Guide (2024) is a one-stop reference for depreciation law. It covers the rules concisely but comprehensively, with cross-referencing and explanations for each item. Topics covered include:

  • Chapter 1: Modified Accelerated Cost Recovery System (MACRS), which applies to property placed in service after 1986
  • Chapter 2: Accelerated Cost Recovery System (ACRS), which applies to property placed in service between 1980 and 1987
  • Chapter 3: General rules for pre-1981 property
  • Chapter 4: Asset Depreciation Range (ADR) system, which dates to 1971
  • Chapter 5: Code Sec. 179 expensing rules
  • Chapter 6: Amortization of intangibles, including 15-year section 197 intangibles
  • Chapter 7: Luxury car depreciation cap rules and listed property depreciation rules

These topics are followed by a discussion of accounting changes required to comply with MACRS regulations dealing with general asset accounts and dispositions. The guide also includes a special highlights section that covers the changes since last year. This includes new legislation, cases, rulings, and regulations, as well as the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the Taxpayer Certainty and Disaster Relief Act.

For specific needs, the guide includes several quick reference tables. These make it easy for practitioners to find out whether special rules apply to their cases. Reference tables include:

  • Trucks, SUVs, and vans over 6,000 pounds that are exempt from luxury car caps
  • Trucks with a bed-length under six feet that are subject to a Section 179 depreciation cap
  • States that conform to federal bonus depreciation rules
  • Comprehensive table of assets and corresponding recovery periods

Benefits of Using U.S. Master Depreciation Guide (2024)

Tax and accounting professionals must operate with three coexisting sets of rules: the MACRS, the ACRS, and the ADR. This is especially challenging when the relevant information is scattered throughout various publications, including IRS tables, regulations, and revenue procedures. Many of these sources are old and may no longer be applicable.

The U.S. Master Depreciation Guide (2024) is an up-to-date compilation of all depreciation systems. With it, practitioners have a one-stop resource on everything they need to know and apply. A case table, official source finding lists, and detailed tables of contents and topical indexes make it easy to quickly locate information. It is also updated annually with new developments, ensuring the information within is always applicable to the current season.

Authored by the Wolters Kluwer Editorial Staff, the U.S. Master Depreciation Guide (2024) is written with years of combined experience to back it. Meanwhile, extensive cross-referencing on every item or table allows readers to confirm information while digging deeper into its applications.

Order U.S. Master Depreciation Guide (2024) Online Today

Covering all three major depreciation systems, updates, addendums, and standalone rules, the U.S. Master Depreciation Guide (2024) is the perfect desk reference for tax and accounting practitioners seeking to navigate the complexities of depreciation law. Order a softcover or eBook copy of the U.S. Master Depreciation Guide (2024) today.

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