When is a vacation rental not classified as residential real estate? When it’s a short-term rental leased out for less than 30 days at a time, it’s recognized as nonresidential real property and therefore subject to a 39-year depreciation period, not residential real estate’s 27.5-year depreciation period. But since Sec. 179(b)(3) excludes property
An airy idea of loans; did they have a deal for you; bar flies; and other highlights of recent tax cases. Pacific, Washington: Tax preparer Jean Mpouli has been sentenced to a year and a day in prison for 14 counts of aiding and abetting the filing of false returns.
Printing errors in QuickBooks are quite common, and every once in a while, QuickBooks users come through one of these errors. One such error that frustrates users arises while printing PDF files from QuickBooks. Whenever a user tries to print PDF, QuickBooks throws an error message “Component Required for Pdf
Undoubtedly, QuickBooks is the best and the most commonly used accounting software worldwide. However, it requires numerous background services and processes to function efficiently. One of the critical QuickBooks services is QBCFMonitorService. This is referred to as QuickBooks Company File Monitoring Service, executed from the qbcfmonitorservice.exe file. Usually, you can
Although all sales transactions are presumed taxable in states with a sales tax (unless there’s a specific exemption or exclusion), most states haven’t yet clarified which sales tax laws apply to sales made in the metaverse. When will they start? And how will they go about it? David Lingerfelt, senior
The Global Reporting Initiative’s new CEO, Eelco van der Enden, is planning to work with the nascent International Sustainability Standards Board on environmental, social and governance standards, while maintaining GRI’s independence. Van der Enden began his tenure leading the ESG standard-setting organization on Jan. 1 (see story). He was formerly
What does your firm spend on technology? Do you get the return on investment you expect? Is your technology up to date? Are you focused on maintenance or innovation? The answers to these questions are often subjective in firms with multiple partners. In other words, different people have different value
If you are using QuickBooks in a multi-user environment, then more than one user can access the company file at the same time if they have the necessary file access rights. An error that you might face while opening the company file is “QuickBooks Error 6073 and 99001,” where you
If you’re just joining in, I recommend that you read the first part in this series. There, I summarize the Section 1244 rules and explain how these rules can affect investors. This article, part two, will focus on additional aspects of the rules. In the year that 1244 shares are
Minute by minute; variations in the standard; new kid on the blog; and other highlights from our favorite tax bloggers. How about a hug? Turbotax (https://blog.turbotax.intuit.com): What to remind them (yet again) about why to file ASAP. Taxing Subjects (https://www.drakesoftware.com/blog): What to remind them about common filing mistakes from a
