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How on earth is it even a loophole, being able to depreciate assets is an utterly basic part of tax code and there's really no reason at all why it wouldn't apply here. It's like if you are a stripper you can write off dresses and makeup, because why not? Or if you are a gambler losses are deductible, in either case it's a basic part of the 'business'. Beyond that you are asking 'what is depreciation', I'm sure there's tons of resources out there that can help you for that. The basic concept is that it is silly to account for something that is going to provide value over time all in one accounting period, so amortization and depreciation pace things out over the useful life of the asset.Grem posted:I'm sure that the multiple sports teams owners that post here will be happy to help you, but as a layman I can tell you that sports franchise owners are mega loving rich, and the tax code is full of stupid rear end loopholes designed for mega loving rich assholes. Good lord has the goon crying about rich people gotten old, but if you are going to do it you should at least know what you are talking about. tsa fucked around with this message at 22:29 on Apr 30, 2015 |
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Apr 30, 2015 22:27
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