MACRS DepreciationWhile Generally Accepted Accounting Principals require computation of depreciation through one of the several methods like SLM, WDV etc., IRS has provided for interesting yet systematic method of computing deductible depreciation. The method is called Modified Accelerated Cost Recovery System and it enables accelerated cost recovery of the Fixed Assets (or Depreciation) through a specified documented method. The infograph summarizes details about the method and steps to compute the same.
CryptocurrencyCryptocurrency is still relatively a new and niche area (With it's value and transaction volume growing exponentially) where there still revolves plenty of assumptions and arguments as to how to Account and Tax. Both US GAAP and IFRS don't explicitly provide for defined accounting treatment. What are the various factors and treatments involved then?, lets dive in!
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