Your company has always depreciated assets using the straight-line method. Your tax accountant has explained that a switch to the double-declining balance method would minimize taxes in the current year, but you are concerned about the impact this change would have on the value of long-term assets on the and future tax liabilities.

• Assuming your projected sales (and, therefore, tax bracket) are predicted to increase dramatically over the next 5 years, what should you do?

Answer rating: 100% (QA)

Depreciation is an important accounting concept that allocates the cost of longterm assets over their useful lives There are several methods for calculating depreciation including the straightline met... View the full answer