User Support Forum

Hi,

I know that most people use the straight line method of depreciation. What are some of the guidelines used to depreciate the following:

Church Vehicles
Buildings
Audio Equipment
Visual Equipment
Musical Equipment
Furniture and Fixtures


I would appreciate some advice on this matter, so I can have some guiding standards to assess the depreciation on these asset classes.

Thx
Melloby

You could use the guidelines in IRS publication 946 as a starting point. Click on this link http://www.irs.gov/pub/irs-pdf/p946.pdf

It sounds as though you are currently using straight line. I would recommend you continue to use that method. Since churches are not paying income taxes like a private business, section 179 deductions and accelerated methods of depreciation are not appropriate or needed for churches.