Which assets are not depreciated?

Content Is a Car a Depreciating Asset? What Does It Mean to Depreciate a Rental Property? Depreciation Methods Business Owners Need to Know Straight Line Depreciation Method How Are Assets Depreciated for Tax Purposes? Don’t Forget About Bonus Depreciation! This depreciation expense is deducted from the business’s taxable income, reducing the amount of income subject […]

What is the Child Tax Credit CTC? Get It Back

Content Do I qualify for the Child Tax Credit? Americans may get a tax refund shock this year Current Year Refund Information Innocent Joint Filer Relief Steps to Determine Filing Requirement Income requirements for filing taxes Make sure your child has social security number Dependent Filing Requirements Thankfully, the IRS has quite a few breaks […]

Accounting Definition & Meaning

They perform multiple accounting duties which vary based on where they work. Financial accounting involves the preparation of accurate financial statements. The focus of financial accounting is to measure the performance of a business as accurately as possible. While financial statements are for external use, they may also be for internal management use to help […]

Learn About FICA, Social Security, and Medicare Taxes

Content About Our Taxes Expert Hiring New Employees What is Federal Insurance Contributions Act (FICA) tax? Premium Investing Services FICA vs. federal income tax Calendar Change the Employee’s Payroll Record Social Security Tax Are FICA withholdings mandatory? Don’t combine deposits for Forms 941 (or Form 944) and Form 945 tax liabilities. Generally, the deposit rules […]

What Is a Premium Bond? Definition, How It Works, and Yield

Content Discount Bonds Disadvantages How to Report Taxes of a Municipal Bond Bought at a Premium What Is a Discount? Preserving principal while the premium shrinks What Are Premium Bonds? How Bond Prices Are Set Hence, it will be a better option for investors but not lucrative for you. One of the easiest ways to […]