The Internal Revenue Service and the Treasury Department released interim guidance on a special depreciation allowance for qualified production property under the One Big Beautiful Bill Act.

On February 20, 2026, the U.S. Department of the Treasury and the Internal Revenue Service released Notice 2026-16, providing interim guidance on a new 100% special depreciation allowance for certain ...

Depreciation is the gradual loss of an asset's value over time. In asset accounting, depreciation is of relevance because it has important tax implications for small businesses. SAP contains a ...

Under the Modified Accelerated Cost Recovery System, the half-year depreciation convention generally applies to personal property. Under this convention, only a half-year of depreciation is allowed ...