11/ I am not an accountant, but my understanding is that (a) you can only have losses 3 out of 7 years (b) you can't "fudge" with $5 profit
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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23/ There are two exceptions the IRS lets you use to accelerate depreciation: (a) farm startup costs (b) small amounts
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