![]() ![]() Depreciable assets include things like buildings, vehicles and equipment and there are a few ways to record depreciation on your tax return.įor certain new asset purchases made for business use, you don’t have to depreciate the asset over its useful life. It’s a way of estimating how much of the asset has been used up. ![]() Depreciation is the allocation of the cost of a physical asset over its expected life.
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