FASB US GAAP / IRS MACRS Tax Depreciation Classes
US Small Business GAAP Accounting & MACRS Depreciation Guide 2026
Complete guide to US small business bookkeeping, Cash vs Accrual accounting method under IRC § 448 ($29M gross receipts test), MACRS tax depreciation, and Section 179 expensing ($1,220,000 cap).
Frequently Asked Questions (FAQ)
IRS Section 179 allows small businesses to immediately write off 100% of the purchase price of qualifying equipment and software up to the annual limit of $1,220,000.