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Describe two factors that created Thomas Edison's tremendous success.
MACRS
Modified Accelerated Cost Recovery System, a method of depreciation in the U.S. for tax purposes, allowing faster recovery of investments in certain property through depreciation deductions.
Depreciable Real Property
Real estate eligible for depreciation for tax purposes, meaning its cost can be deducted over a period of time.
Straight-Line Method
A method of calculating the depreciation of an asset that evenly spreads out its cost over its useful life.
Entertainment Expenses
Costs for business-related entertainment that may be partially deductible under certain conditions.
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