Sally can now record straight line depreciation for her furniture each month for the next seven years. The easiest way to determine the useful life of an asset is to refer to the IRS tables, which are found in Publication 946, referenced above. Sara runs a small nonprofit that recently purchased a copier for...

ContentHow to do payroll with an accountant in 4 stepsPayChex FlexFederal income and FICA tax deposit schedulesOther Payroll Tax DepositsCan I run my business' payroll myself?Get an Employer Identification Number The equivalent for businesses is an Employer Identification Number (EIN). You will need this ID number to open a bank account, apply for a business...

ContentWhy Do We Amortize a Loan Instead of Depreciate a Loan?Depreciation from IFRS Perspective:Is Accumulated Depreciation an Asset or Liability?• Section 179 Deduction • Special Depreciation Allowance • MACRS • Listed PropertyDepletion and amortizationIs Accumulated Depreciation Equal to Depreciation Expense? This method also calculates depreciation expenses based on the depreciable amount. There are several...