In this case the taxpayer, a doctorsâ office, displayed various pieces of art in its offices, claimed depreciation on said artwork, which the IRS disallowed. At trial the IRS argued that the works of art did not have a useful life, based on Revenue Ruling 68-232.
A reduction in HAPU incidence by just 1 percentage point (3.5% to 2.5%) results in potential savings of $1,305,000 per year. Calculate your own potential savings below.
The median amount saved in this age group was $12,000. Retirement savings of $5,000 or less was the most popular answer, with 26% of women in this age group in this bucket. Other than that, this age group was pretty evenly spread out in terms of savings up to $50,000: 15% had $5,000-$9,999 saved. another 15% had $10,000 to $24,999 saved.