IRS publication 946 explains in detail on how you can deduct certain cost of business property from your taxes through deprecation. Now, the document focuses mainly on deprecation. It explains what deprecation is. It also discusses the types of property subjected to deprecation.
So, if you own a business with some property, you should read IRS publication 946. If your property falls under the deprecation characteristics, you can recover some of your business related expenses by deducting those costs out of your annual tax.
IRS publication 946 has a list of all types of property you may own and tells you which ones of the property pieces can be included in your deprecation form. It also tells you which forms to fill out and how to do it.
IRS publication 946 also tells you which pieces of business property are not subjected to deprecation. It talks of terms of deprecation as well as of its conditions. The publication also covers the topic of using different methods for deprecating your property related business expenses from your taxes. You may do that by deducting them or using other methods. It gives you the basis for deprecating your property related expenses.