The (MACRS) Modified Accelerated Cost Recovery System is the existing tax depreciation system in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. The lives are specified broadly in the Internal Revenue Code.
Optional Straight Line Method Definition: A method of computing depreciation deductions under MACRS that can be used instead of the MACRS tables.
Half-Year Convention Definition: A requirement under the Modified Accelerated Cost Recovery System (MACRS) that allows a company to take only a half year’s depreciation in the first and last years of an asset’s depreciation period. Recommended Books ! Or Download E accounting book in