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Your Tax Teacher Podcast4In this week’s episode (14) of the Your Tax Teacher Podcast, I discuss a question I had earlier this week on cancellation of income in bankruptcy. The main topic is discussing depreciation and how the 50% bonus depreciation is ending in 2012 when it comes to purchases of assets for your business. If you have a tax question or feedback on the podcast, please send an email to or leave a voicemail on my contact me on the webpage

The form for bankruptcy and forgiveness (cancellation of debt) is Federal Form 982.  The depreciation form is Form 4562.

The links are:

Form 982:

Form 4562

Form 4562 instructions link is:

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