A very confusing concept. You explained it so well! Very understandable. Thank you

@AccountingLectures

Жыл бұрын

Thank You. For more, visit my website at: www.farhatlectures.com

great video as always.

@AccountingLectures

8 ай бұрын

I appreciate that! Thank you and please visit the website for more farhatlectures.com/ Start your free trial!

Hello, professor. I love your videos. I do have a question regarding this though. What if I am transferring a property that is on mortgage to an LLC, will this trigger the depreciation recapture or not really since I am just transferring the property and will not gain ang profit from it since I am not selling? Your enlightenment on this is greatly appreciated.

Thanks a lot professor Farhat

@AccountingLectures

Жыл бұрын

You are welcome. Thank You. For more, visit my website at: www.farhatlectures.com

Hi Professor, is it fair to say that there is no appreciation recapture for car depreciation? Also, there is a limit rule for the car depreciation, how do I also compare the best depreciation method with standard mileage expenses? Thanks!

Is the accumulated depreciation tax depreciation or book ?

what happens when a business vehicle that you own is now used as a personal vehicle? you didn't sell the vehicle but simply don't use it for business now?