depreciation allowance

The depreciation allowance of the assets that is acquired for the entity's production of goods and services shall be as follows: 10 percent for buildings and 20 percent for machineries and equipment.

1.167(a)-11(e)(l)(i) when evaluating his claim for the $11.2 million bonus depreciation allowance for 2003.

Besides this, they are causing a loss of over Rs 14 billion revenue to the government in terms of relaxations allowed pertaining depreciation allowance.

Also of primary importance to the developer is the fact that this bonus depreciation allowance is allowed for Alternative Minimum Tax purposes.

The recently enacted bipartisan Economic Stimulus Plan contains increased Section 179 expensing for 2008 business equipment purchases, as well as a one-year 50 percent bonus depreciation allowance for new machine tools and other equipment ordered and placed in service during 2008.

In addition, there is a special 30 percent depreciation allowance for new property acquired and placed in service after Sept.

The most significant changes in the 2002 tax year for small businesses are an increase in the maximum contribution to retirement plans, a section 179 depreciation increase to $24,000 for equipment and property purchases, and a special depreciation allowance for companies that purchased equipment and property after September 10, 2001.

Column 4 of Table 1 presents the present value of depreciation allowance under straight-line depreciation method in developed areas, where tax holiday provision is not allowed.

The additional depreciation allowance reduces the regular depreciation that would otherwise be claimed during the regular depreciation period, because the basis on which depreciation is claimed is reduced by the bonus depreciation allowance.

Under the new law, the taxpayer is allowed a $30,000 special depreciation allowance. The remaining $70,000 of adjusted basis is recovered under the existing depreciation rules.

Under present rules, when you place depreciable assets into service has a direct bearing on the depreciation allowance you are entitled to.

The issue seems to rest on whether the money is paid on the basis of a depreciation allowance for plant or is a payment on account for some specific future expenditure.

1.168(i)-4 provides the rules for determining the depreciation allowance for MACRS property when the use changes in the hands of the same taxpayer.

The Code section allowing bonus depreciation (IRC [section] 168(k)(1)) says that the adjusted basis of qualified property must be reduced by the bonus depreciation allowance (50% or 100%, as applicable) before computing the amount otherwise allowable as a depreciation deduction for the initial and all subsequent tax years.