Nothing lasts forever. Things you buy age, they wear down and sometimes, they become obsolete. That’s more or less the essence of depreciation. For federal income tax purposes, depreciation is a deduction that allows you to recover the cost or other basis of certain property. Depreciable property includes most tangible property (I like to think…
We are a Mac household. And a Mac family. Before you judge, rest assured that it wasn’t that cute Justin Long that influenced our decision. We were all-Mac before it was cool. My husband was a Drexel grad back in the 1980s when Drexel standardized the Apple and has been addicted obsessed hooked a fan…
It’s not news that President Bush vetoed the House bill that tied money for the war in Iraq to a time table for the withdrawal of troops. The veto happened as promised and the House did not have the votes necessary to override the veto. It is back to the drawing board. But what didn’t…