As we enter the beginning of 2025, bonus depreciation continues to leverage down as more portions of the Tax Cuts and Jobs Act expire.

Q - Should a resident Indian having rental income from the US, take the benefit of depreciation and other reliefs allowed in the US and offer for tax on house property income on a net basis in India?

If you earn rental income, you must report this on your taxes. This is true whether you have an extensive rental business ...

Your adjusted basis takes into consideration any prior depreciation deductions you have taken (or were allowed but didn't take). For example, let's assume you bought a rental property for $400,000.

Residential rental property is typically depreciated at 3.636% per year over 27.5 years, which the IRS defines as the property's "useful life." Depreciation applies only to the buildings ...

Penalty-free retirement distributions, casualty loss deductions and delayed tax filing and payments can all provide some ...

However, what’s crucial for investors to understand is how a property ... increase rental income, refinancing loans to lower interest rates, and claiming tax benefits such as depreciation ...

If it's a personal car you sometimes use for business, you'll need to carefully track mileage and calculate ... costs by deducting depreciation — or the decrease in the property's value ...

Homes may rise in value over time, but for tax purposes you can depreciate a rental property over 27.5 years. The depreciation rate varies by model, but typically a new vehicle loses 20% of its ...