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US GAAP Software developed for internal use

Oct 07,2018 at 01:27 pm

Software developed for internal use

Software developed for internal use can be capitalized if there is no plan to market the software externally.

Admin, overhead and training costs need to be expensed. 

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US GAAP rules for software costs (external sale)

Oct 07,2018 at 01:17 pm

US GAAP- Computer costs and accounting treatment

All computer costs incurred in creating software product are R&D costs. All Research and development costs are expensed.

Technological feasability is an important c...

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Employee vs contractor- which is the right classification

Oct 07,2018 at 12:25 pm

Employee vs Contractor – which is the right classification?


As a business owner, you may require hiring an expert to help you with various projects. Many employers classify employees as contractors that t...

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Aug 20,2018 at 12:14 am

The Tax cuts and Jobs Act that was passed last year has many changes relating to child tax credit & personal exemptions that impacts your paycheck tax withholding.

Below are few useful tools offered by the Internal Revenue Service that taxpayers can use to check their monthly paycheck ...

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How meals and entertainment expenses will be taxed in 2018?

Aug 15,2018 at 02:38 am


The Tax Cuts and Jobs act has newer rules for deducting business meals and entertainment expenses. According to prior 2017 tax law, most meals and entertainment expenses were 50% deductible for tax purposes.

We have received many questions about how meals and entertainm...

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