Brand New Information

Have you guys ever noticed at gas stations, when you are pumping your gas there is an awning above your head to keep you from getting rained on while you fill your car up? This is pretty nice of the station owners to do, right?



But have you also noticed that the awnings very rarely extend all the way to the actual building? So, when you walk in to pay for your gas, or to get a bottle of water, you end up getting soaked anyway. Ever wonder why this is? I just found out that the awning does not usually touch the building for tax purposes.



It has to do with the estimated depreciable lives of assets that the IRS recognizes on the gas station tax return. By not connecting the awning and the building, the station owner saves a considerable amount of tax dollars every year on depreciation expense.



It depresses me that I find this pretty interesting.