Qualified improvement property and bonus depreciation

This would also impact any other 15-year property, such as land improvements, that was placed in service by the taxpayer in the same year as the leasehold improvements. Failure to properly depreciate QLHI over 15 years puts other 15-year property at risk for reclassification to longer recovery periods. Unfortunately, there was an oversight in drafting […]

eCFR :: 31 CFR Part 328 Restrictive Endorsements of U S. Bearer Securities

This definition is limited to institutions incorporated within the United States, its territories and possessions, the Commonwealth of Puerto Rico and the Canal Zone. These significant changes to medical collection debt reporting support consumers faced with unexpected medical bills. The key is crafting agreements with creditors that meet your credit goals. Consultation with credit experts […]

What is accelerated depreciation?

The sum of the years digits method is another accelerated depreciation method. And similar to the double declining depreciation method, higher depreciation occurs in the early years and a lower amount in the latter years. Depreciation means you calculate the loss of value in your equipment. Accelerated depreciation means you depreciate more in the first […]

CP2000 Response Letter Sample

If you have been notified of an imminent wage garnishment by the IRS, do not wait for it to happen because it will. Preventing a wage garnishment is much more difficult than having one reversed. However, our knowledge and expertise allows us provide solutions to taxpayers who find themselves in either situation. We will review […]

How Much Should I Charge for Bookkeeping Services? Averages

They will keep your books in order and ensure your business has the financial strength required to operate. For medium to large-size business owners, full-charge bookkeepers can also manage payroll. They keep your financial books in order by tracking the revenue and expenditure This is achieved by performing data entry in accounting software. As great […]

Discover How to Calculate Payroll Accrual + Journal Entries

Businesses that don’t keep track of their payroll liabilities risk being surprised by an unexpectedly high payroll sum at the end of the payroll run. Especially in months where the business has faced many other expenses, funds have often dried up by the time payday comes around, which means the business has to go into […]

Accountants and Advisors Certified Public Accountants

Rex Draughn CPA is a North Dallas CPA specializing in accounting services for small businesses and tax services for both individuals and business owners. As a local North Dallas CPA firm, they have helped many small businesses with a variety of accounting services including outsourced accounting and bookkeeping, tax planning, new business advisement and more. […]