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Tax accounting

About this topic

Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.

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U.S. tax and FASB’s new paradigm for revenue recognition

This sweeping new standard for revenue recognition has many important tax considerations. This article explains those considerations.

Article Revenue recognition Intermediate

Accounting period planning may provide preferred year

This item highlights the accounting period rules and the guidance for changing an accounting period for the most common types of entities.

Article Period selection Intermediate

Considering cash: Advantages and availability of the cash method of accounting

This article discusses the cash method of accounting and how it can be used by a range of taxpayers.

Article Methods Intermediate

New PATH for depreciation

This article discusses new opportunities for accelerated depreciation and expensing of qualifying real property that CPAs should explore with their business tax client.

Article Methods Foundational

Common Income Tax Accounting Pitfalls

This article highlights a few ASC Topic 740, Income Taxes, tax matters companies have missed or overlooked in tax provisions.

Article Methods Intermediate

Special depreciation: 3 choices present new options

Recent changes have given taxpayers three attractive options for taking deductions in the year property is placed in service. This article explores the options.

Article Methods Intermediate

Benefiting From New Tangible Property Regulations and Disposal Provisions

This article discusses how a taxpayer could have benefits of both the MACRS disposition regulations and tangible property regulations.

Article Capitalization & depreciation Intermediate

Avoiding Cost Segregation Recapture Tax

This article explores ways to lower any depreciation recapture when disposing of a property.

Article Capitalization & depreciation Intermediate

Evolving Revenue Recognition Issues: Manufacturers

This article discusses the five-step model for revenue recognition under the recently issued standards as well as potential tax implications.

Article Tax accounting Intermediate

Deduct Your Demolished Building Using a General Asset Account

Using a GAA for a building that will be demolished can save taxpayers money, but it must be elected as soon as it is placed in service. This article explores the matter.

Article Capitalization & depreciation Intermediate

How Internet Domain Names Are Taxed

IRS guidance addresses the tax treatment of generic and nongeneric internet domain names. This article discusses the treatment identified in the guidance.

Article Capitalization & depreciation Intermediate

Bonus Depreciation After the PATH Act

Congress made a notable change to the definition of qualifying property for bonus depreciation purposes. This article discusses the changes and items for consideration.

Article Specialized issues Intermediate