Is Auto Insurance Tax Deductible?

If you are self-employed and use your personal vehicle for business, you can take a tax deduction for your car insurance. For example, an independent sales professional who travels for work can take the deduction. However, only the actual mileage used for business travel is deductible. In other words, if you drive a vehicle 15,000…

FASB affirms revenue recognition clarifications

FASB affirmed narrow-scope changes and practical expedients to its revenue recognition standard this week on issues including collectibility, contract modifications, and completed contracts at transition. – See more at: https://www.journalofaccountancy.com/news/2016/feb/fasb-affirms-revenue-recognition-changes-201613881.html#sthash.uQeKP0dA.dpuf Start Reading Now