Taxation And Accounting Articles

Capitalize at Your Own Expense!

Business expenditures generally may be recovered through a deduction against income at some point in time. The critical issue is “when.” If an expenditure must be capitalized, its deduction is delayed; the cost is recovered either over its [...]

GAAP for Leases

The purpose of accounting rules is to communicate financial information in a transparent and economically neutral manner. Traditionally, operating leases were reflected as periodic charges on a lessee’s income statement and did not appear o [...]