This Depreciation Worksheet is a template used by companies for creating a worksheet to evaluate depreciation expenses. The Depreciation Worksheet organizes and outlines a company's depreciation expenses and can be customized for a company's specific usage.
Broward Florida Depreciation Worksheet
Category:
State:
Multi-State
County:
Broward
Control #:
US-03625BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Depreciation Worksheet?
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FAQ
Tangible personal property (TPP) is all goods, property other than real estate, and other articles of value that the owner can physically possess and has intrinsic value. Inventory, household goods, and some vehicular items are excluded.200b200b
WHO MUST FILE A RETURN? Any business owner or self-employed contractor owning tangible personal property on January 1st must file a return each year as required by Florida Statutes 193.052 and 193.062. Property owners that loan, lease or rent tangible property to others must also report such property.
As a business owner, you have to file a Florida tangible personal property tax return (DR-405), or TPP for short. However, it doesn't work like your income tax return. You have to pay a tax that's determined by your county's tax collector on certain fixed assets you own.
Tangible personal property exists physically (i.e., you can touch it) and can be used or consumed. Clothing, vehicles, jewelry, and business equipment are examples of tangible personal property.
DR-405, R. 01/18, Page 2 Description Age Year Taxpayer's Estimate Original Installed Disposed, sold, or traded and to whom? Acquired of Fair Market Value. Cost. LEASED, LOANED, OR RENTED EQUIPMENT Complete if you hold equipment belonging to others.
All businesses are required to file a Tangible Personal Property Tax Return (Form DR 405) annually by April 1st (Florida Statutes 193.062), unless the value of your tangible personal property last year was under $25,000 and you received notice from this office that your requirement to file has been waived.
You are entitled to a Homestead Exemption if, as of January 1st, you have made the property your permanent home or the permanent home of a person who is legally or naturally dependent on you. By law, January 1 of each year is the date on which permanent residence is determined.
REAL TAX SAVINGS: An eligible Broward County property owner saves approximately $580 each year due to the Homestead Exemption -- plus an average of $2,000 more from the Save Our Homes 3% tax assessment cap that automatically comes with your Homestead Exemption.
Tangible Personal Property Tax is an ad valorem tax assessed against the furniture, fixtures and equipment located in businesses and rental property.
WHO MUST FILE A RETURN? Any business owner or self-employed contractor owning tangible personal property on January 1st must file a return each year as required by Florida Statutes 193.052 and 193.062. Property owners that loan, lease or rent tangible property to others must also report such property.
