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Remember when we talked about what it would take to relocate?


Quote:I would bet the Jaguars capitalize their portion of the payment and the city capitalizes their portion spent.  I just know that you cant have two entities (city and Jaguars) depreciating the same property for the full cost.

 

I was thinking Jaguars expense it all if they consider the money spent on the improvements as a "donation" to the city.  Then the city capitalizes the full cost of the assets.  But I don't know.
The IRS doesn't allow you to avoid depreciating a capital asset. They want to make sure you show a fair amount of income to get taxed. Expensing something considered a capital asset all in the first year would violate acceptable depreciation practices set out by the tax code and would be considered a form of tax evasion.

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Remember when we talked about what it would take to relocate? - by Predator - 12-11-2014, 07:48 PM



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