Tax Accounting (Methods & Periods)

Understanding the mechanics of FASB ASC Subtopic 740-10

FASB ASC Subtopic 740-10 requires that each tax position meet a more-likely-than-not test and that the tax benefits be correspondingly reduced if the result is not certain; it is important to understand the administrative issues and problems created by this requirement.

100% bonus depreciation rules are issued

The IRS issued final regulations and new proposed regulations on the 100% bonus depreciation deduction that was amended by the law known as the Tax Cuts and Jobs Act.

IRS issues 2019 to 2020 per-diem rates for traveling away from home

The IRS issued its annual notice specifying the special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method.

The cost of deferred revenue

This article discusses the treatment of unearned revenue from a financial accounting and tax point of view and how unearned revenue can affect the seller and the buyer in an M&A transaction.

IRS issues safe-harbor procedure for vehicle bonus depreciation

The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating passenger vehicles when they are eligible for 100% bonus depreciation but are also subject to the Sec. 280F limits on deductions for luxury automobiles.

Newsletter Articles

50th ANNIVERSARY

50 years of The Tax Adviser

The January 2020 issue marks the 50th anniversary of The Tax Adviser, which was first published in January 1970. Over the coming year, we will be looking back at early issues of the magazine, highlighting interesting tidbits.

PRACTICE MANAGEMENT

2019 tax software survey

This annual survey shows how CPAs rate the tax preparation software they used during last tax season and how it handled the recent tax law changes.