Calculating interest expense on a payable bond should be relatively straightforward, but then the accountants got involved. Generally accepted accounting principles, or GAAP, turn what is ordinarily a ...

A common question among clients is whether the interest they paid on a loan is deductible. The answer depends on whether the loan proceeds can be traced to personal, investment or business activities.

This report is one of a series on the adjustments we make to convert GAAP data to economic earnings. Reported earnings don’t tell the whole story of a company’s profits. They are based on ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. For the 2022 tax year and beyond, companies face new, more ...

The following general ledger/commitment items are used to record expenses as category 2 and 3 of the Statement of Financial Activity (SoFA) report. The categories are outlined alphabetically. Each ...

If you borrow money to buy investment assets, the IRS will sometimes allow you to deduct the loan’s interest from the taxable income the investments generate. This is called the investment interest ...