Modified Accelerated Cost Recovery System (MACRS) 101
People who Purchase certain renewable enery assets may be eligible to depreciate those assets more quickly than they think. Thow owners of the equipment get the "MACRS" sometimes prounouced "MACKERS". The Modified Accelerated Cost Recovery System (MACRS) is the current method of accelerated asset depreciation required by the United States income tax code. Under MACRS, all assets are divided into classes which dictate the number of years over which an asset's cost will be recovered. Source : Wikipedia Here are some links to the US Internal Revenue Web Site that Might help: Introduction Useful Items - You may want to see: What Property Qualifies? Terms you may need to know (see Glossary): Eligible Property Property Acquired for Business Use Property Acquired by Purchase What Property Does Not Qualify? Terms you may need to know (see Glossary): Land and Improvements Excepted Property How Much Can You Deduct? Terms you may need to know (see Glossary): Dollar Limi...