#assets
Track and manage business assets, depreciation, and valuations
Board game cafes blend three businesses — admission fees, food and beverage, and retail — and each needs its own revenue and COGS account; the game library itself should be capitalized and depreciated over 3-5 years, not expensed, while shrink-wrapped retail copies stay inventory.
A four-step pattern for recording the sale, scrap, or trade-in of business equipment—plus how Section 1245 depreciation recapture flows onto Form 4797 at tax time.
When a business sells, scraps, or trades in a fixed asset, gain or loss equals proceeds minus book value — both the asset cost and its accumulated depreciation must be cleared, and Section 1245 recapture taxes the gain as ordinary income on Form 4797.
ASC 842 requires private companies to capitalize nearly every lease longer than 12 months as a right-of-use asset and a lease liability. This guide walks through the five-criteria classification test, the six-step calculation, the risk-free rate and short-term lease expedients, and the audit findings that most often trigger restatements.
A federal tax lien gives the IRS a legal claim against all your assets — real estate, bank accounts, and future property — when you fail to pay taxes. Here are six concrete resolution paths, from full payment and installment agreements to lien withdrawal.
US double declining balance depreciation front-loads IRS write-offs — formula, examples, and when DDB beats straight-line.
A practical guide to business asset depreciation covering MACRS, Section 179 (2026 limit $2,560,000), bonus depreciation restored to 100%, five depreciation methods, recapture rules, and the most common mistakes that cause small business owners to overpay taxes.
The One Big Beautiful Bill Act permanently restored 100% bonus depreciation for property acquired after January 19, 2025. Here's how small businesses can claim the full first-year deduction on equipment, vehicles, and qualified improvements—and when skipping it makes more sense.
Learn what goodwill is in accounting, how to calculate it during a business acquisition, where it appears on the balance sheet, how impairment testing works, and why it matters for business owners buying or selling a company.
Understand accumulated depreciation and how to accurately reflect the declining value of fixed assets in your Beancount accounting system. This guide provides clear explanations and practical, copy-pasteable examples for effective financial management.
Learn how to effectively model real estate transactions in Beancount, treating properties as assets and understanding mortgage liabilities and expenses for better financial management.
Learn how to effectively manage amortization in Beancount, allowing you to spread out expenses over time for better financial clarity and management.
