When it comes to a company’s taxes, there are two important categories to understand: assets and liabilities. Tax liability is anything that a person or company owes taxes on, such as income or ...

Anyone who has run a business of any size understands how confusing and, at times, complex the tax code can seem. So deferred tax assets (DTAs) can be challenging. However, understanding them is ...

If you’re a business owner, you’ve probably bought at least some property to use in your work. It could be something as modest as a computer and some office furniture, or as expensive as heavy ...

On August 14, 2020, the Internal Revenue Service (IRS) issued Rev. Proc. 2020-39 to provide guidance on the proper treatment of excess deferred taxes under the normalization provisions of section ...

Section 1250 of the U.S. tax code applies to gains from the sale of depreciated business real estate. If a property was depreciated beyond the straight-line method, the extra depreciation is taxed at ...