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mid-month convention

German translation: Halbmonats-Abschreibungsmethode

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:mid-month convention
German translation:Halbmonats-Abschreibungsmethode
Entered by: LegalTrans D
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05:16 Oct 28, 2002
English to German translations [PRO]
Law/Patents
English term or phrase: mid-month convention
"XXX will be entitled to claim depreciation deductions under...the Code for U.S. Federal income tax purposes with respect to one hundred percent of the Head Lease Payment commencing in its taxable year that includes the Closing Date computed by using the straight-line method, the mid-month convention and a recovery period equal to forty years"
DPS
Australia
Local time: 10:27
Abschreibungsmethode
Explanation:
Here is short definition of the mid-month convention, Petra. It might help you along:

\"The mid-month convention. Nonresidential real estate (a classification that includes home offices) must be depreciated using a mid-month convention. That is, your property is treated as being placed in service in the middle of the month in which you actually placed it in service. You will get a deduction for half of that month, plus the rest of the months for the remainder of the year. This principle, known as the mid-month convention, is factored into the depreciation tables use for this type of property.\"

To read more about it, go to the link below.

In essence, it is a method of depreciation starting at mid-month. I wouldn\'t know how to express this in German unless you give a short explanation like \"Halbmonatsabschreibung (= Abschreibungsbeginn ist die Mitte des Monats der Inbetriebnahme)\" or something along these lines.

Selected response from:

LegalTrans D
Turkey
Grading comment
Thank you, Volkmar. I took your advice and added an explanation.
Cheers, Petra
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1Abschreibungsmethode
LegalTrans D


  

Answers


4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
Abschreibungsmethode


Explanation:
Here is short definition of the mid-month convention, Petra. It might help you along:

\"The mid-month convention. Nonresidential real estate (a classification that includes home offices) must be depreciated using a mid-month convention. That is, your property is treated as being placed in service in the middle of the month in which you actually placed it in service. You will get a deduction for half of that month, plus the rest of the months for the remainder of the year. This principle, known as the mid-month convention, is factored into the depreciation tables use for this type of property.\"

To read more about it, go to the link below.

In essence, it is a method of depreciation starting at mid-month. I wouldn\'t know how to express this in German unless you give a short explanation like \"Halbmonatsabschreibung (= Abschreibungsbeginn ist die Mitte des Monats der Inbetriebnahme)\" or something along these lines.




    Reference: http://taxguide.completetax.com/text/Q14_2950.asp
LegalTrans D
Turkey
Native speaker of: Native in GermanGerman
PRO pts in pair: 2342
Grading comment
Thank you, Volkmar. I took your advice and added an explanation.
Cheers, Petra

Peer comments on this answer (and responses from the answerer)
agree  Steffen Walter: Ja!
9 mins
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