We have put together this center exclusively for advisors to find the latest tax, accounting and advisory resources on topics that come up frequently with clients. We encourage you to download these materials for your own use with clients and to also forward to them.
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The Alternative Minimum Tax (otherwise known as AMT) is a tax system separate from the regular tax.
The following video, whitepaper and calculation chart explain how AMT works.
With the passing of the PATH Act in 2015, Section 179 was permanently extended, and Bonus Depreciation (otherwise known as Section 197) was extended through 2019.
Lease accounting is something that surfaces with many businesses. GAAP requires leases to be classified as either a capital lease or operating lease.
Many businesses have their CPA prepare their financial statements. What are the difference between the four levels of service that a CPA can provide with respect to their financial statements?