Real Estate

Depreciation-related breaks on business real estate

What you need to know to file your 2018 return Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more quickly are available for […]

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New Proposal for Classification of Balance Sheet Debt

Debt and the classification of debt on classified balance sheets has been scrutinized and analyzed over the years and is currently based on rules based guidance provided by Accounting Standards Codification (ASC) Topic 470, Debt. The Financial Accounting Standards Board (FASB) is proposing to replace the old rules based guidance that does not cover all […]

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Four Steps Towards a Smoother Audit

A financial statement audit can be a significant time burden on the finance/accounting department for any organization. There is often a large time commitment needed from getting ready for the auditors, gathering information requested during the audit, answering questions, etc. However, there are ways to make the audit go smoother. The following are four ways […]

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What do the proposed changes to the Department of Labor Overtime Exemption Regulations mean for your business?

In 2014, President Obama instructed the Department of Labor to update the rules of overtime regulations. After taking into consideration the changes that needed to be made, the Department of Labor began to construct a new rule to raise the overtime threshold. The DOL plans to release the final rule later in 2016. Under the Fair […]

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