Learn how the general depreciation system (GDS) works within MACRS, its methods, tax implications, and how it accelerates asset depreciation.

Discover how different depreciation methods affect long-term asset values and short-term earnings, plus key assumptions that ...

Over time, the assets a company owns lose value, which is known as depreciation. As the value of these assets declines over time, the depreciated amount is recorded as an expense on the balance sheet.

Assets like equipment, vehicles and furniture lose value as they age. Parts wear out and pieces break, eventually requiring repair or replacement. Depreciation helps companies account for the ...