Depreciated cost is the value of a fixed asset minus all of the accumulated depreciation that has been recorded against it. In a broader economic sense, t...

You can perform a 1031 exchange on the company’s real estate and sell the business to a buyer at the same time. You could also sell only the business’s re...

Wishing you many more years of good health and prosperity. Thank you for living your life in a way that makes every day worth celebrating. Happiest of bir...

Most not for profit private schools seek 501(c)(3) status from the IRS once they have incorporated. It is this non-profit status which exempts the entity ...

You’re Expected to Live In the House When you buy a house with a VA home loan, you’re expected to use that house as your primary residence. Further, you m...

If the sales tax is payable in the month the item is invoiced, then the date will be set to the date of the invoice. If the sales tax is payable in the mo...

Adverse possession is a legal concept that allows a trespasser—sometimes a stranger but more often a neighbor—to gain legal title over someone else’s land...

Storm damage is usually covered by your home insurance, but your insurer must be satisfied that you’ve maintained your home to a reasonable standard. For ...

A tax preparer is expected to keep tax records for at least three years. According to Internal Revenue Service Bulletin 2012-11, the tax preparer must kee...

Why is my refund different than the amount on the tax return I filed? All or part of your refund may have been used (offset) to pay off past-due federal t...