In the United States, residential rental properties are depreciated using the straight line method over a period of 27.5 years, while commercial properties utilize a 39-year period. Straight line depr...
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Standard Costing and Variance Analysis
(4) Analysis of any variances and to ascertain the reasons of such variation. (iv) To motivate operating and managerial personnel in the direction of improved efficiency. It doesn’t matter what FASB...
Single vs Double Entry Accounting
Ledgers or books are used to record a business’s financial transactions in an organised way. They keep track of money coming in and out, providing a comprehensive record of all transactions. The mai...
Oregonians incomes rise, putting more in the top tax bracket
The Oregon Earned Income Tax Credit (EITC) has also been enhanced, increasing the percentage of the federal credit that eligible taxpayers can claim on their state returns. This change aims to provide...
Who’s Offering a TurboTax Discount? Top Partners in 2025
Initiating the tax filing process through the provided link will apply the discount. TD Ameritrade clients have had access to TurboTax discounts in the past. Clients should log in to their TD Ameritra...
Just-in-Time JIT: Definition, Example, Pros, and Cons
If you’re not sure whether a JIT system is right for your business (or you don’t think you’re properly set up for it yet), there are a couple of things you can do to prep your company for the JI...
1099-MISC Instructions and How to Read the Tax Form
If the 1099 due date falls on a weekend, the deadline rolls over to the next business day. Certain types of 1099s, such as a 1099-S, aren’t due until mid-February. A 1099 form is a record that a...
Stockholders’ Equity: What It Is, How to Calculate It, Examples
An investor’s paid-in capital is a component in establishing his or her ownership percentage. Also known as Owner’s Equity, is the total amount of assets remaining after deducting all liabilities ...