The tax code is a confusing place for an entrepreneur, and it uses a whole different language. One of the common forms business owners receive is a schedule K-1. So What is a Schedule K-1? Glad you asked! Let's discuss...
The Planner is CORE Group's blog and a way to help others interested current tax planning and service news.
Graduate from the University of Oklahoma with a Bachelor of Accountancy. Handles the firm administration, Business Advisory services and business succession planning for our clients.
Tax deductions are great, but tax credits are even better! So what's the difference? Glad you asked!
Accountants are weird. They use funny words and use lots of spreadsheets. One common word is Capital Improvements. Similar words that they use to describe the same things: Capital Assets, Fixed Assets, Property, Real Estate, FF&E (Furniture, Fixtures, & Equipment). In the accounting tax world, all of these terms describe something with an economic benefit beyond one year.