The U.S. Master Depreciation Guide offers tax and accounting professionals who work with businesses a one-stop resource for guidance in understanding and applying the complex depreciation rules to their fixed assets. This area is especially challenging, because bits and pieces of applicable information must be gathered from a maze of IRS regulations, tables, rulings, procedures, and other guidance. Depreciation Guide pulls the pieces together, so practitioners can make sense of all the corresponding information and put the information into practice.
Published annually, this new edition is completely updated to reflect law changes made by the One Big Beautiful Bill Act and depreciation-related rule changes and guidance issued through the time of press. A special Highlights section provides a quick overview of any new applicable legislation, regulations, or IRS guidance released since last year’s edition, with cross-references to the explanation paragraph in which they are reflected.
The Master Depreciation Guide presents a comprehensive discussion of the depreciation rules and concepts including:
- Depreciation fundamentals;
- Modified Accelerated Cost Recovery System (MACRS), which applies to most tangible depreciable property in service after 1986;
- Accelerated Cost Recovery System (ACRS) which applies to property placed in service after 1980 and before 1987;
- General rules for pre-1981 property;
- Asset Depreciation Range (ADR) system which dates back to 1971;
- Other depreciation methods such as the income forecast method;
- Cost Segregation rules and tables;
- Bonus depreciation rules;
- Code Sec. 179 expensing rules;
- Luxury car depreciation cap rules and listed property depreciation rules;
- Applicable accounting method changes; and
- Amortization of intangibles, including 15-year section 197 intangibles.
All sections provide an in-depth discussion of the depreciation rules with instructions and multiple examples.
The Master Depreciation Guide also contains several useful “quick reference tables.” These include a list of trucks, SUVs, and vans that are exempt from the luxury car caps because they have a gross vehicle weight rating that exceeds 6,000 lbs; trucks subject to the with a bed-length under six feet that are subject to the section 179 expense limit for SUVs; a list of states that conform to the federal bonus depreciation rules; and a quick reference guide that provides a comprehensive list assets, their recovery periods, and the corresponding locations where they are discussed within the book.