I started a landscape business on the side and I'm trying to figure out how I'm supposed to do depreciation. I've taken several accounting classes and have done my own accounting since I was 8 but I can't seem to wade through all theses silly laws. I want the simple way even if it costs me a bit more. I made up an excell sheet for simple straight line style and entered everything for peachtree to do auto transactions - Done, quick and easy, but now I find out maybe I can't do straight line. This is my #1 expense so I want to make use of it. I'd also rather spread things out and not take sec. 179 unless that really is much easier.
Also, after working in the bis for so many years I have a good idea of how long stuff lasts, can I use those terms or do I have to follow some rule for that too?
Somebody put this in plain English please!