This video on double declining balance depreciation is part of the Accounting 101 playlist: kzbin.info/www/bejne/mGqWfHWjmL2UpKs&pp=gAQBiAQB Highly recommended if you want to learn the basic elements of accounting in an easy to understand way! 😎
@Dilhack10 ай бұрын
Just want to send an update your way - I used your videos substantially in University and they were incredibly helpful to learn what I needed on several Accounting and Finance subjects in both undergrad and MBA. I just had someone ask about what helped me and I directed them your way and to a few other channels. Thought I would stop in and say thank you, your work is appreciated!
@TheFinanceStoryteller10 ай бұрын
Awesome! Thank you for the referrals!
@tinkerbooks26093 ай бұрын
Here in Canada, the government tells you what the depreciation rate is for various assets. A short list; Land, Buildings, Vehicles, office equipment of various classes etc. If the cost of the asset is $500 or less, you can write it off as an expense. They actually pretty much insist that you write off, for example a $500 laptop as expense which you can't carry over to next year, against an income of $17.00 as anew startup. I actually had to go to the tax law section of the college to find the correct answer. It is communications equipment that can be amortized at specific rates.
@TheFinanceStoryteller3 ай бұрын
If you have very little income as a startup, or actually run a loss, you can record a "deferred tax asset" on your books. It's like a raincheck that you can use once you DO start making a profit in future years. See: kzbin.info/www/bejne/g6e7cp-ghqlnf6s
@ygerman15399 ай бұрын
Great video.
@TheFinanceStoryteller9 ай бұрын
Glad you enjoyed it! Thank you for watching and commenting.