Determine whether the asset is personal property—essentially anything not attached to or associated with land. The mid-quarter convention applies to personal property. Choose a recovery period available under MACRS that is appropriate for the asset in question; three-, five-, seven-,10-, 15- an...
Internal Revenue Service (IRS) to issue regulations permitting certain taxpayers to elect not to use convention depreciation rules. Reason for the disruption of the timing of acquiring and placing property in service for many taxpayers; Provision under the Notice 2001-70 issued by the IRS; Kind ...
Lagardère Travel Retail today posted an +18.7% (reported, +13.6% like-for-like) year-on-year increase in first-quarter 2024 revenue to €1,242 million. The difference between reported and like-for-like data is attribut...
Acquirers from the Gulf states, for example, where tax rates are either very low or zero, may not be as familiar with the concept of tax as a value-adder or value-destroyer within cross-border deals. With tax administrations around the world stepping up enforcement in order to increase tax...