Depreciation plays a crucial role in accounting and financial planning for businesses, especially those with significant investments in long-term assets. While depreciation may seem like a straightforward concept on the surface, the variety of available methods and compliance considerations can make it one of the more complex areas of accounting. Whether you’re managing financial statements,…

Perhaps the prospect of correcting old income tax misreporting will cause people to show concern. Fortunately, a systematic path has been laid open by the Voluntary Disclosure Facility (VDF) through which such taxpayers can come into the correct fold. While it is possible to “successfully” go through the process, it requires more than mere tax…