Question

As a tax advisor for individuals and firms operating in a broad variety of environments who plan to acquire, retire, replace, and sell significant amounts of property of all kinds, what sorts of things are important for them to be aware of and prepare for?

Answer 1

Before making any investment one has to verify all the terms and conditions attached to that contract or investment.

If any one want to acquire property he must be aware that property should be qualifiying asset for that business.

For claiming additional depreceation that asset must be used only for business purposes and that too only new properties are allowed for additional depreceation.

Before acquiring property, assessment of company requirements with that asset has to be matched.