Listed property is a tangible asset that can be used for both business and personal purposes, as defined by the IRS. Examples of listed property include many types of vehicles and entertainment ...

(1) Increase in Bonus Depreciation – the TCJA modified the bonus deprecation rules under §168 (k) to allow businesses to immediately deduct 100% of the cost of qualified property (generally ...

Insurance companies typically place limits on the amount of coverage that applies to specific types of unscheduled property. A policy could cover $5,000 worth of unscheduled property, for example ...

Personal Property Depreciation recapture of personal property refers to assets like equipment, machinery, and vehicles used in a business. Unlike real property, personal property usually has a ...

The bill also sets up a 10-year depreciation scale for personal property. The scale depreciates the property value every year until after 10 years from manufacturing.

IN GENERAL, personal property tax valuations are likely two to five times too high for equipment. For oilfield equipment, personal property tax valuations are typically four to 10 times the ...

Personal property tax is calculated based on what you owned on Jan. 1 of a given year. That means that if you bought a car or moved to Missouri with your car on Jan. 2 or later, you won’t have ...