b. Why cant we use the same depreciation calculations prepared for our financial statements in filing our tax returns? c. Why is depreciation expense on our financial statements significantly less than what you have calculated for tax purposes? How do tax depreciable lives and methods, in general, differ from financial accounting lives and methods? e. What is depreciation recapture and how does it affect our tax liability? f. Our financial statements show less net gain on the sale of depreciable assets than your calculations. Why would that be the case?