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KC Royals

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Issue:

Miscellaneous

 

Written by:

Michael S

 

Date added:

March 3, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1335

 

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2241 times

 

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Simply put, business owners are allowed to depreciate any business assets they need to get their business going. For instance, let??s say you own a restaurant. You need stoves, dish washers, cash registers, plates, silverware, etc. to keep that business running. You are allowed to write off the depreciation in value of those items because you will have to pay the cost of replacing them someday...
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For instance, let??s say you own a restaurant. You need stoves, dish washers, cash registers, plates, silverware, etc. to keep that business running. You are allowed to write off the depreciation in value of those items because you will have to pay the cost of replacing them someday. So, in essence, you get to count the cost of those items twice in your taxes for their first few years...
displayed 300 characters

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