Category: SR Glossary
How to classify an employee vs. independent contractor
The classification of employee vs. independent contractor can have many ramifications, from the way the person gets paid to the cost of utilizing their services. For instance, if someone performing services for your company is an independent contractor, you do...
SR Glossary: Lady bird deed
A lady bird deed, or enhanced life estate deed, is a type of life estate deed that lets the owner maintain control of a property until their death, when the property automatically transfers to a beneficiary without going through probate. ...
Understanding the purpose of a cost segregation study
Property acquired or constructed by taxpayers can be depreciated over its useful life for tax purposes, based on specific IRS guidelines. Different types of property have different useful lives; for instance, commercial buildings are typically depreciated over 39.5 years, while...