How e-File Protects your Tax Refund
Filing your taxes online is actually the safest way to handle your tax return, according to the IRS. Here's why!
ReadDepreciation
More Tax Guides
You got this—all you have to do is start!
We make filing taxes delightfully simple with our flat–rate price. Every feature included for everyone.
Start filingWhat is Depreciation?
Depreciation is a type of tax deduction that helps you recover the cost of wear and tear of property used over multiple years. Except for land, most types of tangible property and assets are depreciable, from buildings and vehicles to equipment. Some intangible property is depreciable, too, such as patents, copyrights, and computer software. In general, you should own the property you are depreciating, and the property must be used for business or an income-producing activity. In most cases, you can either depreciate the asset over its life expectancy, or write it off as an expense and deduct the entire cost in the first year.
Still have questions?
You got it. We’re always here to help.