How does depreciation work for business?
For example, say a business bought an asset that cost $100,000 and it has an economic life of 10 years, does that mean the business gets to write off $10,000 a year for 10 years in taxes, or am I understanding it wrong? Is there a limit to how much a business can write off in depreciation? Thanks
By: BigE
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Filed under United States by on Nov 13th, 2010. 