Depreciation guidelines enable accountants to understand the importance of depreciable assets in operating activities and depreciation methods as well as the regulatory relevance of bookkeeping and ...

The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. While it is convenient to ...

It's not that Uncle Sam does not want your clients to deduct those big-ticket items that are critical to running almost any business. The less cynical among us would nod and agree with the Internal ...

Learn how to calculate the written-down value (WDV) to determine the current worth of an asset after depreciation or amortization, also known as book value.

As the new year begins, many people are beginning to think about possible tax planning strategies to use in 2022 that could reduce their tax bill next year. While a plethora of strategies are ...

Depreciation is a word that has so many meanings that it is almost meaningless. We know that it has something to do with the fact that equipment does not last forever and that we need to write down ...

When a company acquires assets, those assets usually come at a cost. However, because most assets don't last forever, their cost needs to be proportionately expensed based on the time period during ...

Recent changes made by the IRS and Congress have greatly expanded taxpayers’ ability to currently deduct the costs of property purchased for business use, instead of having to depreciate those costs ...

Recently released Revenue Procedure 2021-26 (the Revenue Procedure) provides taxpayers with guidance regarding accounting method changes made on behalf of foreign corporations. The Revenue Procedure: ...

Discover what cash-on-cash yield is, how to calculate it, and why it's essential for evaluating real estate investments. Learn the formula and see a practical example.

Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Amid persistently higher costs, three Philadelphia-area health systems have cut expenses over the last two years by changing how they account for investments in facilities and equipment. The change ...