Modernizing depreciation schedules.

Kiplinger Business Forecasts, August, 2000

Byline:Todd L. Treadway

The Treasury Department now agrees with critics in business who have complained for years that depreciation schedules are woefully out of date and should be modernized. It's an issue Congress is likely to take up in a year or so.

Faster depreciation would save businesses a bundle on taxes, promote the sale of more cutting-edge technology and thus increase the nation's productivity.

The current depreciation system is outdated, Treasury concedes in a recent study. Internal Revenue Service tables listing useful lives of business assets have been in place ...