In my last post, I went over book accounting and tax accounting. Now let’s take a look at how each views leasing. The first point I want to make is the one overriding factor that any business needs to determine is their goals for a lease first, then they should choose a lease that best meets their needs.… Read More »
Here’s something that’s a surprise to many non-businesspeople: There are actually two different accounting methods, and most successful businesses will compile reports and similar using both. The two accounting methods are: Book Accounting (which could simply be called “accounting”) utilizes Generally Accepted Accounting Principles (GAAP), whose rules are set by the Financial Accounting Standards Board (FASB). Tax Accounting… Read More »
I’ve had leasing equipment on my mind lately. Even though I’m quite schooled on the advantages of leasing equipment and I’ve spoken about it in this blog previously, I never really expressed just how flexible it is, and how it could help companies of any size, no matter their goals. I also never really got into the accounting… Read More »
As I write this, the biggest issue on the minds of businesspeople everywhere is “taxes”. Of course, this argument has been going on for centuries (the USA was founded partly due to unhappiness with taxes), but there is a very valid point here. “Enough with the taxes” say small and mid-sized companies, and they’re right. Businesspeople, especially those… Read More »
So here we are at my annual predictions post. Let’s forget the fact that 2020 was a terrible year for any early year predictions, and look forward to 2021. And I do see room for optimism. But like always, let’s start out with the fun stuff: sports. As I type, the NFL playoffs are going on, and to… Read More »