DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
Not buildings. Land. Land is almost always not depreciable (it doesn't wear out. A mine technically can be when it's finished). The equipment, ect. So the question of the day is, can a plot of land be depreciated if it had something like a nuclear waste spill? Something where there is no possible way to clean it?



The value would go to near zero and property taxes would fall to near zero as well. If the land becomes worthless then you write it off.

Land is almost always not depreciable (and most accountants would tell you it's never), (normally, land does not depreciate because it has a permanent use. It doesn't wear out), but land improvements such as roads, parking, fences, sidewalks or landscaping, ect. must be depreciated because they have limited use life may and be written off over periods of 10, 15 or 20 years depending on the specific nature of the asset.

However, for tax purposes, certain land owners are allowed to deplete the value of the land with something called depletion when they are extracting oil or minerals from the land. Sometimes land has three values, the Mineral Rights (underground oil, gas, or say estimated underground Gold reserves), the surface area for building(s), and possibly the sky above the property (or it's view) / air rights, that has value. (Water rights can count as a fourth since they generally are not included in mineral rights).
Mineral extraction for oil allows for a 15% tax deduction on gross receipts of gas receipts from the source land, so essentially an incentive to be taxed on 85% of gross receipts, less expenses in most cases for oil and gas.

Contaminated land owned might just have an offsetting liability for cleanup cost, so it might have a negative value on the books, so no depreciation needed.

If we restore the land after use like a nuclear power plant, oil extraction, or coal mining, then we should estimate the amount and
add it to the acquisition costs of the amount and liabilities. And then, we should depreciate the amount over the expected period.
 
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sserafim

sserafim

brighter than the sun, that’s just me
Sep 13, 2023
9,013
Lol dude you seem to have everything going for you and you're not even suicidal, why are you on this site? You seem to love life and don't want to die
 
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falling_snow

falling_snow

Mage
Aug 9, 2023
514
i think ive learned more from you than from any school. holy shit, you are a fucking good teacher
 
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DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
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i think ive learned more from you than from any school. holy shit, you are a fucking good teacher
Well thats very sweet and kind of you and I greatly appreciate that, but I wish I was a good teacher lol
 
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DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
and sell the land to who? fucking ninja turtles?
Lol, this is if the land has been successfully cleaned. Handford still has uses today. There is a new power plant there and also the government actually uses it as a graveyard for retired nuclear submarines and other nuclear reactors.
 
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Homo erectus

Homo erectus

Mage
Mar 7, 2023
560
Lol dude you seem to have everything going for you and you're not even suicidal, why are you on this site? You seem to love life and don't want to die
External appearance is hardly a good indicator of internal thoughts.
 
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4am

4am

there’s nothing for you (it/its)
Dec 14, 2023
3,332
Lol, this is if the land has been successfully cleaned. Handford still has uses today. There is a new power plant there and also the government actually uses it as a graveyard for retired nuclear submarines and other nuclear reactors.
oh sorry, that was hbomberguy reference, don't take that seriously haha
 
DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
External appearance is hardly a good indicator of internal thoughts.
I think a lot of people are confused as to why I'm on here because I have not expressed a desire to CTB and enjoy my life…
 
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Homo erectus

Homo erectus

Mage
Mar 7, 2023
560
I think a lot of people are confused as to why I'm on here because I have not expressed a desire to CTB and enjoy my life…
I feel you bro. People just don't understand. I don't bother to explain.
 
DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
I feel you bro. People just don't understand. I don't bother to explain.
My understanding is there is actively suicidal and quasi-suicidal. I would say I don't have either of these and I take deep employment in life as much as possible. Thankfully, I do not struggle with depression, and I don't have any of these
alphabet soup disorders (no offense to anyone) like PTSD, ASD, ect. Why I am here? I leave that up to people to question… 🤷‍♀️
I feel you bro. People just don't understand. I don't bother to explain.
I've been fairly successful in my life. I'm at peace with myself. I actually enjoy my life. I've got a lovely place. And I'm quite happy.

I just wish everyone luck and happiness and health in life. And time to enjoy it.
oh sorry, that was hbomberguy reference, don't take that seriously haha
Lol thats awesome 😂
 
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sserafim

sserafim

brighter than the sun, that’s just me
Sep 13, 2023
9,013
My understanding is there is actively suicidal and quasi-suicidal. I would say I don't have either of these and I take deep employment in life as much as possible. Thankfully, I do not struggle with depression, and I don't have any of these
alphabet soup disorders (no offense to anyone) like PTSD, ASD, ect. Why I am here? I leave that up to people to question… 🤷‍♀️

I've been fairly successful in my life. I'm at peace with myself. I actually enjoy my life. I've got a lovely place. And I'm quite happy.

I just wish everyone luck and happiness and health in life. And time to enjoy it.

Lol thats awesome 😂
Maybe you're looking for connection and community?
 
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DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
Maybe you're looking for connection and community?
I think many outlets act as a facet of community. I have a healthy network of family and friends that I continue to grow. I'm not any social media (outside of this). Again, I leave it up for people here to speculate 🧐
 
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SexyIncél

SexyIncél

🍭my lollipop brings the feminists to my candyshop
Aug 16, 2022
1,482
Lol dude you seem to have everything going for you and you're not even suicidal, why are you on this site? You seem to love life and don't want to die
Many of us have multiple personalities. Not all of our personalities are miserable. For instance, on FC's more contentious threads, I wouldn't be surprised if half the participants are the same person
 
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DarkRange55

DarkRange55

Enlightened
Oct 15, 2023
1,791
Many of us have multiple personalities. Not all of our personalities are miserable. For instance, on FC's more contentious threads, I wouldn't be surprised if half the participants are the same person
As far as I, and my friends/family/lover-partner can tell - I only have one personality (in the conventional sense). I'm pretty content and strive for 80% of my life to be heaven on earth. 100% is unrealistic and some struggle builds character.
 
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SexyIncél

SexyIncél

🍭my lollipop brings the feminists to my candyshop
Aug 16, 2022
1,482
As far as I, and my friends/family/lover-partner can tell - I only have one personality (in the conventional sense). I'm pretty content and strive for 80% of my life to be heaven on earth. 100% is unrealistic and some struggle builds character.
Yeah, Daigo Umehara (the gamer) shoots for a consistent 60% happiness level. "Big discoveries in my daily efforts make me far happier than winning World Championships. I avoid happiness of a hundred under normal circumstances, so eighty is the most I'll allow myself. It's extraordinarily rewarding."
 
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sserafim

sserafim

brighter than the sun, that’s just me
Sep 13, 2023
9,013
I think many outlets act as a facet of community. I have a healthy network of family and friends that I continue to grow. I'm not any social media (outside of this). Again, I leave it up for people here to speculate 🧐
Or maybe you're bored? Personally I'm on this site because I want to die but also because I'm bored lol
 
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