What is depreciation? Learn how it works, the main methods and how it impacts your business taxes and accounting.

Depreciation is how the costs of tangible and intangible assets are allocated over time and use. Both public and private companies use depreciation methods according to generally accepted accounting ...

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 new tangible property regulations form a framework of rules for the capitalization of tangible property that affects the treatment of fixed asset additions and disposals, the expensing of ...

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: ...

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 ...

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 comprehensive tax allocation reconciles tax and financial reporting, uncovering discrepancies in income, expenses, ...

In Rev. Proc. 2023-24, the IRS on Thursday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently ...