Creating a Chart of Accounts You Can Use in Your Business

In today’s business world, every business needs to use accounting software, whether it be QuickBooks (the most common choice among small businesses) or any number of other off-the-shelf or web-based accounting systems. One of the very first steps a business takes when setting up and configuring accounting software is to create a chart of accounts.

What You Need to Know about the IRS Tangible Property Capitalization and Repair Regulations

Does your business acquire, produce or improve tangible property? Chances are, the answer is yes. If so, then it’s important to know about the regulations the IRS released in September 2013 pertaining to the costs incurred to acquire, maintain and improve tangible real and personal property. The result of an almost decade-long process, the IRS […]