Any business owner who maintains inventory knows that a certain portion of that inventory probably won't be sold, and thus won't produce revenue. The reasons are many: Technology becomes obsolete, ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Both of these accounting techniques are ways for a business to indicate how an asset has declined in value Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

I have been writing for newspapers, magazines and online publications for over 10 years. My passion is providing, in a way that is easily accessible and digestible to all, the knowledge needed for ...

The cost of driving your car while on business is a legitimate tax deduction, even after you've paid off the car. Unfortunately, the federal definition of "business travel" isn't as generous as some ...

A ramped-up instant asset write-off scheme will offer small businesses tax breaks on eligible purchases over the next financial year, the 2023-2024 federal budget papers reveal, averting fears the ...

As part of the 2024–25 Budget, the Federal Government announced it would be extending the existing instant asset write-off for another 12 months. That means that until 30 June 2025, small businesses ...

In short: The Queensland government has proposed changes to the state's written-off vehicle scheme amid concerns that substandard repairs are going undetected. The government has suggested a more ...