Amortization Vs. Depreciation

Thank you my G

😬

Amortorization? Its amortization bro :))

So basically depreciation pays for the amortization in a way?

Hey Chris, loving the videos a ton!!! So I'm an Accounting student at a....nearby University 😉, and weve learned about different depreciation methods or schedules. Some assets use things like double declining balance, while others use things like MACRS. Does the government determine the depreciation schedule? Or is it just a perfectly strait line for the 27 years like you eluded to in your (awesome) video?

Very good 👍 informative

So kris is the depreciation only for investment property or can you write it off as well when its your primary residence?

This is fantastic

Yet another amazing video. Thanks Kris!

That’s a nice gray shirt. Where is that from

Thanks again Chris. Always love your videos, you have inspired me so much, just closed on my 4th deal last week. Your videos touch more people than you will ever know.

I thought amortization was spreading the costs of something (e.g. tools, planes) that you bought for your business over a few years. So for example if you buy tools for your garage for 4k, instead of writing the cost off immediately in the year you bought them, you spread the costs over e.g. 4 years, so you would write off 1k every year.

Thanks alot ,, another great vid.