Some credits and deductions are going, others are staying, and more than a few are still up in the air. We break down what you should know heading into tax season. Read more
A wave of new leasing accounting standards is pushing companies to report millions of dollars in leases on their balance sheets—expenses that, under prior guidelines, were often left off balance sheets and reported as footnotes in corporate financial statements. In this article, we’ll discuss how the standards impact supply-chain businesses, and how you can stay compliant.
Read moreEach time a business plans to invest in new equipment – management must make a decision: Should we buy the new asset or lease it? That decision’s important for a number of reasons. We’re talking about a significant investment of capital with far-reaching consequences; whether you buy or lease will impact your short-term and long-term finances, as well as future investments. So… should you buy or lease? The answer isn’t as clear-cut as you might think.
Read moreLike tax breaks? You’ll love this. Tax deductions based on depreciation are useful for any business, especially those in transportation, distribution, logistics and manufacturing, where companies regularly invest in equipment and other property. But what if you didn’t have to wait years for your deduction? What if you could take advantage of your entire tax-break upfront? With accelerated depreciation, you can.
Read moreA ‘basis of accounting’ is the methodology used to recognize revenues and expenses on financial statements. And because financial statements are a way for stakeholders to gage the financial health of the organization, nonprofits need to carefully consider which accounting basis they use and how that could change the financial statement.
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