Modified Accelerated Cost Recovery System
n. An accounting approach for the rapid depreciation of assets. Abbreviated MACRS.

Webster's New World Law Dictionary. . 2000.

Look at other dictionaries:

  • Modified Accelerated Cost Recovery System — (MACRS) See Asset Depreciation Range (ADR); Accelerated Cost Recovery System (ACRS) …   Black's law dictionary

  • Modified Accelerated Cost Recovery System — ( MACRS) A 1986 act that set out rules for the depreciation of qualifying assets, allowing for greater acceleration over longer periods of time. Bloomberg Financial Dictionary …   Financial and business terms

  • Modified Accelerated Cost Recovery System - MACRS — The new accelerated cost recovery system, created after the release of the Tax Reform Act of 1986, which allows for greater accelerated depreciation over longer time periods. Faster acceleration allows individuals to deduct greater amounts during …   Investment dictionary

  • Accelerated Cost Recovery System - ACRS — A system of depreciation introduced by the Economic Recovery Tax Act of 1981. ACRS depreciation is based on recovery periods instead of useful life. These periods were predetermined by the IRS. The modified accelerated cost recovery system… …   Investment dictionary

  • Accelerated Cost Recovery System — (ACRS) An accounting method whereby the cost of a fixed asset is written off for tax purposes over a prescribed period of time. Instituted by the Economic Recovery Tax Act of 1981, and modified by Tax Reform Act of 1986, the system places assets… …   Black's law dictionary

  • accelerated depreciation — see depreciation Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. accelerated depreciation …   Law dictionary

  • Recovery Property — A specific class of depreciable real estate. Recovery property describes tangible depreciable property placed in service between 1980 1987, and is eligible for Accelerated Cost Recovery System (ACRS) treatment. The ACRS election was allowed on a… …   Investment dictionary

  • modified ACRS — Fin a system used for computing the depreciation of some assets acquired after 1985 in a way that reduces taxes. The ACRS applies to older assets. See also accelerated cost recovery system …   The ultimate business dictionary

  • General Depreciation System - GDS — The most commonly used modified accelerated cost recovery system (MACRS) for calculating depreciation. A general depreciation system uses the declining balance method to depreciate personal property. The declining balance method involves applying …   Investment dictionary

  • information system — Introduction       an integrated set of components for collecting, storing, processing, and communicating information (information science). Business firms, other organizations, and individuals in contemporary society rely on information systems… …   Universalium

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