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Basis In Asset: What It Means and Why It Matters

Basis In Asset: What It Means and Why It Matters

Your basis in a business asset is essentially the cost of that asset. The term applies to all types of assets held by your business, including real estate, land, equipment, and investments...

Posted by Taxes Made EZ Inc on 01/01/2021

Blackwood NJ Tax Pro for Basis in Asset Tax Preparer for Basis in Asset ETF Cost Adjustments Capitalization capital Gains Depreciation FMV Calculating Stock Cost Basis
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Tax-Related to Business use of Vehicles.

Tax-Related to Business use of Vehicles.

One of the ways to significantly reduce your business income tax is the business use of a vehicle. It is an important entity that you can use to bring down your tax for two reasons: The...

Posted by Dennis Jao on 12/25/2020

Brea CA Tax Pro for Business Use of Vehicle Tax Preparer for Vehicle expenses Find a Tax Accountant for Business Use of a vehicle deductions Gas Insurance Depreciation Mileage
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Depreciation, Depletion, and Amortization (DD&A)

Depreciation, Depletion, and Amortization (DD&A)

Depreciation, depletion, and amortization (DD&A) are accounting techniques that give firms the ability to slowly expense various kinds of resources over time to make cost and revenue...

Posted by McCool's Tax Service on 12/24/2020

Camp Hill PA Tax Pro for DD&A Tax Preparer for Depreciation Depletion & Amortization
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Your Tax Guide to The Capital Gains Tax

Your Tax Guide to The Capital Gains Tax

Selling your property or other assets can be a lucrative endeavor.  Sellers should be aware that there could be tax implications from the gains on the sale of these assets. Unifirst...

Posted by Unifirst Financial & Tax Consultants on 12/03/2020

Herndon VA Tax Pro for Capital Gains Tax Preparer for Calculating Capital Gains Tax Find a Tax Accountant for Adjusted Net Basis Recaptured Depreciation
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IRS Issues Dollar Limits for Passenger Automobile Depreciation in 2020

IRS Issues Dollar Limits for Passenger Automobile Depreciation in 2020

The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...

Posted by Elliot Kravitz, ATP on 11/16/2020

Cincinnati OH Tax Pro for Automobile Depreciation Tax Preparer for Limits on Automobile Depreciation Find a Tax Accountant for Automobile Depreciation Section 280F IRC TCJA Article 168(k) Code 274(I)
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Understanding Depreciation and Expenses

Understanding Depreciation and Expenses

Depreciation is negative. It is like something losing value. In the tax world, however, depreciation can translate to considerable tax savings. Depreciation means deducting the...

Posted by Taxes Made EZ Inc on 11/09/2020

Blackwood NJ Tax Pro for Depreciation & Expenses Tax Preparer for Asset Find a Tax Accountant for Depreciation & Expenses Asset Expenses Depreciation
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What are the Depreciation Schedule for Business Assets?

What are the Depreciation Schedule for Business Assets?

Depreciation doesn’t sound appealing to most of us. However, all the tax savings it will give you might be of great benefit for you!You should familiarize yourself on the basics...

Posted by Debi G Hill, CPA on 12/28/2019

Charlotte North Carolina Business Assets Bookkeeping Tax Accountant
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IRS Releases Guidance on 100 Percent Depreciation Deduction

IRS Releases Guidance on 100 Percent Depreciation Deduction

IRS has recently released a proposed guidance. It is for the provision of Tax Cuts & Jobs Act which permits for 100 percent depreciation deduction on the qualified property. This...

Posted by John Pournaras Agency on 10/26/2018

Pennsylvania Tax Professional Depreciation Deduction
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An Overview On The Expansion of the Bonus Depreciation Rules


An Overview On The Expansion of the Bonus Depreciation Rules


According to Internal Revenue Service, "This special bonus depreciation allowance is available to all businesses and applies to most types of tangible personal property and computer...

Posted by rinehimerbaker on 04/12/2018

Tax Planning Florida Bonus Depreciation Rules
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