"Doug Miller" wrote in message
t...
In article , "Tony"
wrote:
You only pay capital gains tax when you sell an asset that has been
depreciated.

APpreciated...

Doug,

The book value of capital assets is DEpreciated on a corporate tax return,
based on the established depreciation rates for various assets, according to
GAAP (Generally Accepted Accounting Principles)

Capital gains tax has very little effect on the cost of a Starrett mike vs.
a import mike.