Business News • MarketWire • Business Owners and Partners Risk a Costly Mistake: They Forget That the IRS Can Take Their Depreciation Allowance Back -- at the Highest Tax Rate, Warns Marks Paneth & Shron

Business Owners and Partners Risk a Costly Mistake: They Forget That the IRS Can Take Their Depreciation Allowance Back -- at the Highest Tax Rate, Warns Marks Paneth & Shron

Business Owners and Partners Risk a Costly Mistake: They Forget That the IRS Can Take Their Depreciation Allowance Back -- at the Highest Tax Rate, Warns Marks Paneth & Shron

NEW YORK, NY--(Marketwired - Jul 29, 2013) - Business owners, partners and other high-net-worth individuals are at risk: They're getting depreciation wrong. They forget that when they sell an asset, the IRS can take their depreciation allowance back -- often at the highest possible tax rate.

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