Modified Accelerated Cost Recovery System
- It's a depreciation calculation system initiated through the Tax Reform Act of 1986. This replaced the prior Accelerated Cost Recovery System, offering a quicker way to recover costs for assets started after 1986 and over an extended duration
- The Modified Accelerated Cost Recovery System is advantageous for businesses as it allows them to recover their investment in assets more rapidly.
- Under the Modified Accelerated Cost Recovery System, the business could recover the costs of the new machinery faster than with the previous system.
- The company employed the Modified Accelerated Cost Recovery System to calculate the depreciation of their new office building.
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