If you want your firm to stay compliant, be financially successful, and grow, you need to have an accurate and clear bookkeeping system for your law firm to follow. This could mean taking on bookkeeping tasks in-house or hiring a…

For residential rentals, the IRS allows depreciation over 27.5 years using the straight-line method, meaning you deduct the same amount annually. This is usually the property’s purchase price plus improvement contra asset account costs, minus the land value. The IRS…