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Business Owners and Partners Risk a Costly Mistake: They Forget That the IRS Can Take Their Depreciation Allowance Back — at the Highest Tax Rate, Warns Marks Paneth & Shron

NEW YORK, NY — (Marketwired) — 07/29/13 — Business owners, partners and other high-net-worth individuals are at risk: They-re getting depreciation wrong. They forget that .Millions of taxpayers use depreciation to write down the cost of assets — both tangible assets like capital equipment and real property, and intangible assets such as patent costs and goodwill. But"Contrary to what many taxpayers assume — the agency doesn-t apply the preferential capital gains tax rate to depreciate

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