How to Depreciate Assets for Tax Purposes - MACRS Depreciation - Part 1 of 2

[@ariah5093]

Thank God for having awesome KZbin channels such as this one to walk me through accounting topics lol

[@EfrosFinancial]

Thank you for your kind words -- glad to hear that it was helpful! :D

[@justinknash]

Thanks for this video and explanation. Self employed business owner, god I hate the IRS. It's almost as if they make the rules and laws opaque and complicated so they can audit more people (rolling eyes).

[@antony2728]

Great! You are much better and more clear than others out there

[@EfrosFinancial]

Thank you for your kind words -- your feedback is much appreciated! :D

[@TheodenEdnewDoesDnD]

You're an excellent teacher

[@JDEANNIA]

Thanks! I need that Excel spreadsheet lol

[@julioalvarez3788]

Thank you man. Super useful and clear.

[@EfrosFinancial]

You're welcome!

[@HottgirlzinMiami]

Thank you , you’re the 1st person I’ve seen talking about this topic

[@kendraandindy5522]

Did a literal awesome job. New sub! Can't wait to see what else you tackle :D

[@stormmatthews]

Hello Alex. I'm trying to find info on how to calculate depreciation using 200DB on years 2-5 of an asset after 50% bonus depreciation was elected on year 1? The asset, let's say $50k was put in place in 2/2017, so bonus depreciation at that time was 50% = $25k. Can I apply 200DB method on the remaining $25k depreciable basis? If yes, will I use 4 years as the life, to get my percentage of depreciation for years 2-5 or do I still use 5 year life?

[@brunohussein123]

Hello from Brazil, Alex. Your language is simple what turn your videos easier to understand, even to me, a brazilian who is starting speaks English. Congratulations. Have you ever think about make videos to Brazilian people (accountants, company directors, students, professors) a shall knowledge basic about accounting and taxation). There is a big market here. Subscribed

[@EfrosFinancial]

Hello Bruno -- thanks for your kind words! As far as languages go, I speak two: English and Bad English! :D I'm glad that the video was helpful for you.

[@django628]

Awesome thank you for this video

[@thecryptoplug6871]

Thanks for this. I think it would help to do a video on Solar MACRS or the 100% Bonus Depreciation for Solar. Would love to see that.

[@thecryptoplug6871]

For Commercial Solar.

[@sergiopolanco5126]

Hi I decided to go with another tax preparer who needs a depreciation schedule for a rental to be able to file my taxes The problem is the my old tax preparer won’t provide me with a copy Any help on what to do Thanks

[@jenniferf3034]

Thanks for the video! Can you use MACRS depreciation on books?

[@CRAIGNV]

Hi, I'm inheriting a rental house, at 68 years old can I do a shorter depreciation than 27 1/2 years, I'll be gone by then.

[@rondelljoseph1521]

What if your fixed asset was used ?

[@judasarioch4555]

I meant what is the best path to become an EA if you have no accounting background?

[@EfrosFinancial]

Hello Eric, Thank you for your question -- I made a video to answer it here: kzbin.info/www/bejne/nIjQdqmkr9ebgbM I hope this helps! :D

[@raquelgarcia7261]

Hi Can I depreciate a vehicle that is under finanical just paid off half of the cost on 2021?

[@jblblack5789]

hi Do you use Newton's indicator? \

[@svasudev2008]

need more videos on MACRS calcuations

[@haoyuan8934]

Thank you. could you tell me how do you record macrs when purchasing equipment in September?

[@judasarioch4555]

what is the best path become an EA if you have account background?

[@EfrosFinancial]

Hello Eric, Thank you for your question -- I made a video to answer it here: kzbin.info/www/bejne/nIjQdqmkr9ebgbM I hope this helps! :D

[@daliaalbassam202]

Did anyone else think this was Jon Snow from GOT at first glance?

[@jairoroductionstudio]

College student here trying do understand depreciation teacher referred me to this video and let me just tell you. I am even more confused after this video truly terrible. Went more into detail then explaining the actual main ideas.