Month: March 2014

Understanding the basics of reverse mortgages

Because many retirees are house-rich and cash-poor, financial gurus have developed a method for tapping into some of that bottled-up wealth: the reverse mortgage. As the name suggests, a reverse mortgage generates payments from a lender to a homeowner —…

Get the most from 2013 depreciation rules

  While the depreciation methods you use for business tax deductions have changed over time, the basic underlying idea remains the same: tangible assets generally have a limited lifespan, and the cost of the asset is deducted over that lifespan.…

IRS issues repair regulations

At the end of 2013, the IRS published guidance designed to help answer a question you probably consider whenever you acquire a business asset: Should you depreciate the cost over time or expense it currently? The new guidance, referred to…