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kullssamantha
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Taxes
Oct 16, 2018 8:24:58 GMT
Post by kullssamantha on Oct 16, 2018 8:24:58 GMT
If you have other forms of insurance such as a landlord liability policy or umbrella liability policy that covers multiple properties, you will want to seek the counsel of your tax professional or CPA to determine how it should be deducted.
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jackharmes
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Taxes
Apr 29, 2020 9:17:38 GMT
Post by jackharmes on Apr 29, 2020 9:17:38 GMT
The asset eligible for depreciation claim must have a useful life that can be reasonably estimated. In other words, one can provide a reasonable estimate of the number of years during which the asset will remain in service until the point in time when it will become obsolete or will stop producing any economic benefits.
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