10/ IRS had a term for this decades ago. A hobby "loss" (word "loss" in air quotes). Giving rise to "the hobby loss rule".
20/ In general, if you buy a $20M asphalt plant, you get to write it down on your taxes on a straight line depreciation over X years.
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21/ ...but that's a huge hassle when you buy a $12 shovel and write it off 90 cents per year. So there are exceptions for rapid / lump sum
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22/ You want to do this for two reasons: (a) much less hassle (b) time value of money: better to save on taxes today than in 12 yrs
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