Lawful Money and Amortized Tax Depreciations Such As Straight-Line Depreciation

Lawful Money and Amortized Tax Depreciations Such As Straight-Line Depreciation

An amortized tax depreciation will gradually write off the initial cost of (an asset) over a period. One such example is straight-line depreciation which spreads the cost of an asset evenly over the time it will be used, also known as its "useful life." It requires only three inputs to calculate: asset cost, useful life and estimated salvage value - meaning, how much the asset is likely to be worth at the end of its useful life.

When there is no taxable income (i.e. lawful money is redeemed in all currency transactions) then the tax depreciations that are typically written-off and will hold no value for the person or entity unless they are refundable tax credits.
    • Related Articles

    • What Is The Difference Between Tax Deduction vs Tax Credit

      Deductions can reduce the amount of income before calculating the tax owed. Credits can reduce the amount of tax owed or increase the refund amount. Certain credits may give a refund even if no tax is owed. Some common tax credits for individuals ...
    • Can One Claim Child Tax Credits on Lawful Money Tax Return

      If a lawful money return results in a refund of the tax year's withholdings then what can those credits be applied to for this year? Nothing. It keeps rolling over until there is taxable income to apply the credits to or it expires. The government ...
    • Why Can’t One Get Gold for My Lawful Money Demand?

      Federal Reserve notes serve as lawful money upon demand, the bank will not give one any other kind of money: US Bank Notes, Gold Certificates, Silver Certificates, stamps or united States Postal money orders. Do not ask for any special form, many ...
    • $100K Business Line Of Credit (BLOC) vs $100K Hard Money

      A hard money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by real property. Hard money loans are typically issued by private investors or companies. Hard money is great for real estate, but the ...
    • Income Taxes and Lawful Money

      Under its power to borrow money, Congress is authorized by the Constitution to contract debt, and whenever something is borrowed it must be returned. When Congress spends the contracted private credit, each use of credit is debt which must be ...