A placed-in-service date is the date when a long-term asset is first used by a company or organization. Learn how accountants use it to calculate depreciation.

An asset constitutes anything that holds monetary value, whether current or future, to a person or organization. Businesses, governments and non-profits all own assets. So do many people. An asset is ...

ection 1221 of the tax code broadly defines a capital asset. Over time the courts have attempted to narrow that definition and eliminate confusion. Recently a Third Circuit Court of Appeals ruling ...

Assets are the lifeblood of your business, because they are valuable resources that determine the net worth of your company. Many people make the mistake of thinking cash-on-hand is the most important ...