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Tax Act of 1989
Legislation enacted to amend, revise, or change the tax laws existing at that time, specific to a given jurisdiction.
Depreciation Method
A methodical strategy for distributing the expense of a physical asset across its lifespan.
Straight-line Method
A method of allocating an asset's cost evenly over its useful life for the purposes of calculating depreciation.
MACRS
Modified Accelerated Cost Recovery System, a method of depreciation for tax purposes that allows faster depreciation in the initial years of an asset's life.
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