What ACCELERATED COST RECOVERY SYSTEM (ACRS) means: The system of depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used the property before 1987. See Modified Accelerated Cost Recovery System (MACRS) for property placed in service after 1986.
- Definition Accrued Interest:
- Dictionary Interest that has been earned but not yet paid or credited; for example, for a bond on which interest is paid seminanually, interest earned during the six-month period in between payment dates accelerated cost recovery system (acrs) definition.
- Definition Adjustment To Income:
- Dictionary An expense that may be deducted even if the taxpayer does not itemize deductions. Adjustments to income are subtracted from gross income to arrive at adjusted gross income accelerated cost recovery system (acrs) explain.
- Definition Accounting Method:
- Dictionary The method under which income and expenses are determined for tax purposes. Major accounting methods are the cash method and the accrual method accelerated cost recovery system (acrs) what is.
- Definition Adjusted Basis:
- Dictionary original basis of property reduced by adjustments such as depreciation allowed or allowable and casualty losses, and increased by the cost of capital improvements, expenses of purchase, and other accelerated cost recovery system (acrs) meaning.
How works Accelerated Cost Recovery meaning in Tax definitions A .
