Wiki User
∙ 16y agoRecoverable altho you were foolish not to have "replacement cost". Then you are covered at 100%
Wiki User
∙ 16y agoUnits-of-production
10
Yes, to the degree the law reads your gain will be calculated from the basis of the depreciation taken or should have been taken.
Straight line method.
Modified Accelerated Cost Recovery System
It is treated as if you bought it this year. Depreciation can not be taken until an asset is put into use, regardless of when it is purchased.
no
Accumulated Depriciated account is kept mostly for TAX purposes but also gives you face value of your assets.
depreciation -- Decline in the value of a currency, financial asset, or capital good. When applied to a capital good, depreciation usually refers to loss of value because of obsolescence, wear, or destruction (as by fire or flood). Book depreciation (also known as tax depreciation) is the depreciation that the tax code allows businesses to deduct when they calculate their taxable profits. It is typically faster than economic depreciation, which represents the actual decline in the value of the asset. Both measures of depreciation appear as part of the national income and product accounts.another definition...depreciation -- Decrease in the value of equipment from wear and tear and the passage of time. Depreciation on business equipment is generally deductible for tax purposes.another definition...depreciation -- the decline in the dollar value of an asset over time and though use. The amount of annual depreciation may be computed differently for tax purposes than the actual decline in value.
The Canary Islands are considered part of Spain and therefore, for travel insurance purposes, they are typically classified as being in Europe. It is important to check with your insurance provider to ensure coverage in the Canary Islands specifically.
Straight-line depreciation methods are easy to understand and calculate, providing a constant depreciation expense each year. This method is widely accepted and used by companies for financial reporting purposes, as it provides a systematic and consistent way to allocate the cost of an asset over its useful life. Additionally, straight-line depreciation offers a clear and predictable rate of depreciation, making it easier for businesses to budget and plan for future expenses.
You can find information of life insurance premiums, and what their purposes are by asking your current insurance company provider for information on it.