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Building is an asset for business and depreciation is only charged to assets of business so in this way depreciation is charged to building as well.
Congress has used depreciation to target small business activities for special treatment with enhanced small business expensing. The small business health insurance tax credit is another way they use depreciation to help small businesses.
In sum of year digit depreciation method depreciation is charged based on total number of years fixed assets is usable in business instead of using any percentage or fixed amount of depreciation.
it is necessary to provide depreciation even business is running in loses or in profit because depreciation provides fund for future and remove the burden of fund for purchasing new machinery when old machinery are broken down.
Challenges faced by family business successor are usually connected to lack of management skills
Depreciating asset is that asset which is utilizing by business in generating revenue and cost of asset is allocating to income statement through depreciation.
Fixed asset depreciation schedule shows the calculation of yearly depreciation expense which is scheduled to be charged to income statement for all fixed assets and the total amount of depreciation applicable to specific income statement of business.
Depreciation is calculated from the date it is put in the business to work and revenue generation. both dates can be or cannot be same.
Yes whenver old asset is utilized in business it is it's fair value which is used for depreciation purpose in business.
stright line
Depreciation. Accruals.
Depreciation is a portion of fixed asset charged to income statement due to wear and tear of assets during use in business in fiscal year that's why that wear and tear is accounted for by using depreciation.