On Monday , we exposed mayoral candidate Ben Hall âs consistent Democratic primary voting record , his contributions totaling over $100,000 to liberal Democrats like Barack Obama , Hillary Clinton , John Kerry , Sheila Jackson Lee , Eddie Bernice Johnson , Lloyd Doggett , and Al Green and that he is a current Sustaining Member of the Harris County ...
Claim Capital Cost Allowance (depreciation) for equipment, motor vehicles, or buildings used for your business in the self-employment section of the Interview. (For CCA expenses for rental properties, see Entering rental income and expenses 1  .). Click the Income tab at the top of the interview.
Capital expenditures either create cost basis or add to a preexisting cost basis and cannot be deducted in the year the taxpayer pays or incurs the expenditure. In terms of its accounting treatment, an expense is recorded immediately and impacts directly the income statement of the company, reducing its net profit. In contrast, a capital expenditure is capitalized, recorded as an asset and depreciated over time. 1 Four ways costs can be capital expenditures.