Post Depreciation Expense Journal Entries Straight-line depreciation, the most commonly used method, allows you to take the same amount of depreciation each year over the equipment's useful life.

Correcting an in-house journal entry is much simpler than adjusting the incorrect tax return. If you, or someone in your business, fail to make an in-house depreciation entry, you can correct the ...

Beginning after Sept. 27, 2017 , a business may be eligible to utilize “bonus depreciation” to depreciate 100% of qualifying assets, new or used, in the year purchased. Previously, only new ...

Relying on Noyce v. Commissioner, 97 TC 670 (1991), the Tenth Circuit stated that depreciation should not be considered in assessing whether business expenses are reasonable under IRC section 162. By ...