Medical Records: Quantifying Obsolescence

Over time, certain assets, such as machinery, equipment and other tangible personal property become less valuable. An automobile is a common example of an asset that loses value over time. The loss in value can be due to three forms of obsolescence; physical,...

The Complex World of Machinery, Equipment, Production

The average passenger automobile has over 30,000 individual parts, a modern 747 has over 6 million parts, and the now retired NASA space shuttle contained over 2.5 million moving parts. It is impossible to calculate the combined labor, materials, logistics, research...

Open-Air Parking Structures: Land Improvement or Building?

There has been much debate over the years concerning open-air parking structures and whether the structure, for depreciation purposes, should be depreciated as 39-year nonresidential real property or 15-year land improvements. The Internal Revenue Service Large and...