A CPA told me that (around) 7% for the first year is normal for business machinery depreciation. My question is... if you bought the machine during the year, can you only depreciate it based upon the ratio of days you owned it to the year, or can you depreciate it as if you owned it the whole year?For instance, on March 1st I bought a machine for $100,000. Can I depreciate it for the MACRS yearly rate, or do I need to treat the depreciation as a partial year portion of the possible depreciation rate? (lt; approx 7%)?
partial year or you can use section 179 or section 168 to expense greater than normal amounts.
there are mid year conventions when you buy equipment during the year
