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Commercial land itself cannot be depreciated for tax purposes. Depreciation is for assets that wear out or become obsolete over time, and land is considered to have an indefinite useful life.

The buildings and improvements on commercial property, however, can be depreciated over a 39-year period according to the IRS. Residential buildings are depreciated over a 27.5-year period.

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Commercial buildings typically cannot be depreciated as fast as residential buildings. The IRS sets the standard depreciation schedules, and commercial buildings have a longer useful life for tax purposes than residential buildings. However, there are some exceptions for certain types of commercial property that can be depreciated over a shorter period. These include:

* Leasehold improvements made by a tenant, which can be depreciated over the life of the lease or the useful life of the improvements, whichever is shorter.

* Short-lived components of a commercial building, such as HVAC systems or roofing, which can be depreciated over their own shorter useful lives.

Under what conditions can the commercial be depreciated faster or same as residential.

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Bloomberg Tax: SEC Allows Some Exceptions to Crypto Accounting Compliance (1)

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CARRYING VALUE

When the Federal Reserve started to raise rates in 2022, the carrying value of these bonds declined.

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Unfortunately, The Wall Street Journal doesn't currently offer a way to configure the default landing page on their website or app. The "What's News" page is the designated homepage.

However, you can quickly access the Markets page by following these steps:

* Visit the Wall Street Journal website or launch the WSJ app.

* Tap on the "Markets" tab or section on the homepage. This will redirect you to the Markets page.

You can also bookmark the WSJ Markets page for easier access in the future.

How to configure wsj to open the markets page always instead of the what's news page

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Assisting engineers with exercising company-granted stock options involves understanding several key tax regulations:

* Section 83(b): This section addresses the tax treatment when an employee purchases stock at a discount from its fair market value. The employee generally recognizes ordinary income equal to the discount at the time of exercise.

* Section 409A: This applies to incentive stock options (ISOs) granted to executives and other "disqualified persons." ISOs offer tax advantages, but only if specific holding periods are met after exercise.

* Section 422: This covers disqualifying dispositions of stock acquired through ISOs. Selling the stock too soon after exercise can trigger unfavorable tax treatment.

* Section 10b-5-1 of Regulation S-X: This implements anti-hedging provisions that prevent insiders from engaging in transactions that could undermine confidence in the company's stock.

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Post Insurance Overpayments, Takebacks and Refunds (Advanced Training)

What makes billing complex? ACCOUNTING concepts of TUURO

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Reconciliation reasons= MEED= Missing, Duplicate, Earlier(st), Earlier is like Last In First Out (LIFO), Exchanged

How to think critically?

Think in terms of OVERLAP

Think in terms of DUPLICATES

Superset and Subset

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Along with missing, duplicate,

Another reconciliation reason= EARLIEST OR EARLIER

Example:

What she paid in Oct was applied to June 19.

So June 26 open for $30K

How to think critically?

Think in terms of OVERLAP

Think in terms of DUPLICATES

Superset and Subset

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Why No One’s Going Into Accounting - WSJ

https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2

Though the profession of accounting may have fewer takers now,  thinking from first principles the word accounting derives from the verb,  to account for. Assuming the person in accounting has unquestionable accountability, which equates to trustworthiness (= fiduciary responsibility),  simply combining cerebral application of first principles  of accounting with wealth growth such as selling puts on clients money achieving higher rate of return or with estate planning serving as a custodian for generational wealth transfer will ALWAYS stay in demand. 

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Accountant -> Account -> to account for

Though the profession of accounting may have fewer takers now, accounting when taken to extreme, translated as human trait of Accountability -> trustworthy -> fiduciary responsibility combined with cerebral application will always stay in demand.

Combine accounting with other skills as selling puts= higher rate of return for clients or estate planning= Generational wealth transfer.

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Why No One’s Going Into Accounting - WSJ

https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2

Though the profession of accounting may have fewer takers now,  thinking from first principles the word accounting drives from the verb,  to account for. Assuming the person in accounting has unquestionable accountability, which equates to trustworthiness (= fiduciary responsibility),  simply combining cerebral application of first principles  of accounting with wealth growth such as selling puts on clients money achieving higher rate of return or with estate planning serving as a custodian for generational wealth transfer will ALWAYS stay in demand. 

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FIRST INITIALLY, Without going into details of any industry, thinking logically, how to find "bad debt".

Industry agnostic procedure to on How to find bad debt

FIRST Principles= ask who are Payers? -> who are clients? revenue sources

Only Then delve into details

1. Ins not paying with uncorrectable excuse. Eg.  PR204, 96, 119, 49

2. Pt not paying after 3 statements

Checklist Before giving non paying patients

What can Provider do

Can ICD10 be corrected?

AR 

Before certain date decision

Over 3 last visits not paid by ins

Over 3 last visits not paid by patients after sending statements

Pt statements greater than certain number, eg $2000

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3. Book Value (Carrying Value):

Concept: Book value, also called carrying value, represents the historical cost of an asset minus accumulated depreciation or amortization. It reflects the value of the asset on the company's accounting records at a specific point in time, similar to BS

Use: Book value is a starting point for valuation, but it might not reflect the asset's current market value due to depreciation or appreciation.

4. Market Value:

Concept: Market value represents the estimated price an asset could be bought or sold for in a fair and open market transaction.

Use: Market value is often more relevant than book value for decision-making, especially when considering asset sales or purchases.

5. Fair Value:

Concept: Fair value is an unbiased estimate of the price at which an asset or liability could be exchanged in an arm's-length transaction between willing buyers and sellers. It's similar to market value but might consider specific factors beyond readily available market data.

Use: Fair value is used in various accounting standards for reporting assets and liabilities, especially when market data is unavailable or unreliable.

Accounting Asset Values

In accounting, what are all the types of value?

Example

Present value

Future value

Carried value

[cpa-from-engineer-eyes]

Accounting Asset Values

In accounting, what are all the types of value?

Example

Present value

Future value

Carried value

[cpa-from-engineer-eyes]

Delayed gratification equivalent to Present value and future value concept.