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Can you take bonus depreciation on rental property?

Accounting

Can you take bonus depreciation on rental property? According to the Internal Revenue Service (IRS), bonus depreciation permits business taxpayers …

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Adjusting entry for bad debt expense

Accounting

In running a business, bad debt is an unfortunate reality that one may have to deal with. This is the …

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Market Economy Examples

Economics

For every country in existence, economic activities within it must be governed by a type of economic system. Some common …

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How to do adjusting entries with examples

Accounting

Adjusting entries are the changes made to the journal entries that were already made at the end of an accounting …

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Examples of Negative Externalities in Economics

Economics

Examples of negative externalities in economics include traffic congestion, environmental pollution, the negative impacts of tourism, secondary smoking, etc. These …

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Accrued revenue adjusting entry

Accounting

When running a business, tracking the amount of revenue coming in and whether it is sufficient enough to pay for …

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Demographic Marketing Definition and Importance

Marketing

In the world of business, sales are an important factor in the growth of a business as well as its …

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Adjusting entry for inventory

Accounting

Adjusting entry for inventory is made at the end of an accounting period to ensure that a company’s recorded inventory …

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How does bonus depreciation work?

Accounting

How does bonus depreciation work? For taxpayers looking for how to minimize short-term tax liabilities, electing to take bonus depreciation …

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Prepaid Insurance Journal Entry

Accounting

The prepaid insurance journal entry follows the same accounting principle for all prepaid expenses. Sometimes, in business, some expenses are …

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