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Let’s face it, tax season requires clients and accountants to share large amounts of data – mostly in the form of paper documents. Since the onset of COVID, our team has adjusted the way we share and collect tax documents. Dropping off an envelope full of tax documents to your accountant is becoming more of…
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The market value of property and equipment often exceeds book value, especially for fixed assets that appreciate (rather than depreciate) in value or if your company uses accelerated depreciation methods. But the reverse sometimes occurs, too. When book value exceeds market value, a write-off may be required under U.S. Generally Accepted Accounting Principles. Understanding Book…
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