blog accounting tangible-assets 
TaxConnex
NOVEMBER 22, 2022
In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. Accounting and CPA firms looking to expand their services into the sales and use tax niche, often have pent-up demand within their own client base. Review the sales tax payable account.
ThomsonReuters
DECEMBER 1, 2023
Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for  depreciation  or  amortization  of assets is critical. However, Form 4562 also has additional uses. In other words, a business cannot deduct more money than it made.
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ThomsonReuters
AUGUST 25, 2023
Depreciation in general is an annual income tax deduction that enables taxpayers to recover the cost of business assets over a number of years. Most types of tangible property, such as vehicles , machinery, furniture, and equipment, can be depreciated. Depreciation and amortization are essentially the same concepts in accounting.
ThomsonReuters
OCTOBER 5, 2023
Jump to: What is amortization in accounting? How to calculate amortization Amortization vs. depreciation Managing amortization of assets Companies have a lot of assets. There is, however, no one-size-fits all approach when calculating the value of a company’s assets. What is amortization in accounting?
Withum
FEBRUARY 9, 2022
This is the 1,005 th blog I posted in the last ten years, and today will start my eleventh year of these blogs. This is primarily a business blog and I post topics clients have expressed interest in, and I am gratified to be able to help them in this manner. It worked well.
xendoo
NOVEMBER 2, 2021
In this blog post, we will explain how the deductions work, and how you can use them to maximize your tax savings. . Section 179 allows you to deduct the full purchase price from a qualifying new or used business asset, while Bonus Depreciation allows you to deduct a percentage. How Do the Deductions Work? . Used for Business.
ThomsonReuters
FEBRUARY 6, 2024
Capital gains tax Capital gains tax is a tax levied on the profit made from the sale of an asset, such as property and stocks, but the tax rates vary and that variance will depend on two factors. Those factors are: one’s income level and how long the asset was held.
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