August 2004
Intermediate to advanced
656 pages
15h 28m
English
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Gain or Loss When Selling or Scrapping Depreciable Assets
When a depreciable asset is sold or scrapped, any difference between its book value and the actual amount received needs to be accounted for in the corporation's income taxes. A loss, meaning that the actual amount received is less than the book value, is subtracted from the net ordinary income before taxes. If Blizzard Systems scrapped a computer with a book value of $5000 and their net ordinary income was $165,000, they would be taxed on $160,000 net income.
If the actual value is more than the book value, the difference, called depreciation recapture, is typically taxed as ordinary income. Assuming ABCSoft had a computer with no book value (i.e., it had been completely depreciated) ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.