Depreciation of assets that appreciate?
What is the proper depreciation for assets that appreciate, rental properties in particular? Common sense would say don't take much if any depreciation unless needed for a tax benefit since the estimated future value is greater than the cost. What is a CPA supposed to or retired to do for taxes? Advise his client of options? Context - my current CPA is depreciating everything to almost nothing and causing a future extreme taxable event with no tax benefit during the years depreciated ... is this negligence, incompetence or something else?
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