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 PDF Form 4562, Depreciation and Amortization Internal Revenue Service 2020

4562 for 2020-2025 Form

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Video instructions and help with filling out and completing PDF Form 4562, Depreciation And Amortization Internal Revenue Service

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Instructions and help about 4562 irs

[Music] hi I'm the tax geek with more of your taxes oversimplified this is the third video in a series on taxes for landlords and tackles the subjects of depreciation and amortization I'll start out by saying depreciation is a complex subject that cannot at all be completely described in a short short video this video is designed to give you a very oversimplified overview of depreciation particularly as it affects rental properties hopefully you'll gain a broad understanding of the subject and if you don't feel free to watch the video again and again depreciation is a process where the cost of longlived assets is spread out and expensed over the approximate useful life of the asset accountants have many depreciation methods they can choose from but the IRS has mainly one the modified accelerated cost recovery system which in its acronym form is called makers makers establishes standardized asset lives and depreciation methods for each broad class of asse

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