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what method is the best to track wear and tear on the van?
Best track of wear and tear The units-of production method tracks the wear and tear on the van most closely. [ Preferred method for income tax purposes For income tax purposes, the double-declining-balance method is best because it provides the most depreciation and, thus, the largest tax deductions in the early life of the asset. The company can invest the tax savings to earn a return on the
investment. ]
Expert answered|hersheys|Points 75|
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Asked 6/23/2013 11:40:41 AM
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what is a sole proprietorship?
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Weegy: The most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. [ This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation, call incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnerships. ] (More)
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