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how u.s. depreciation works explain in brief?
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if a business tool has a limited lifespan, it's value decreases (depreciates) from year to year. the business can capture that loss of value on some things that it couldn't otherwise write off as expenses. a few tools can be either expenses or depreciated, but only one of those can be chosen for that particular object. this is generally not relevant for individual taxpayers, unless you can show that the item is being used for income-producing purposes.
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