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Remember when we talked about what it would take to relocate?


Quote:If they are going to use their accounting as a legal basis for breaking a lease, ie like your claim that they could forward the depreciation expense from the renovations to show a loss, then their books better follow GAAP and proper tax accounting because you better believe they will be opened by court order and the IRS will be right there should the court finds the books have been cooked.


There is a 0.1% chance the jaguars organization doesnt use proper accounting procedures. I didnt claim anything. I just considered the possibility that the city has capitalized the full cost and Khan's money was a donation. However stupid or unlikely that is.


The books dont have to follow tax accounting. The IRS would not care unless regs are not followed on the tax return. There are differences that can exist between book and tax.
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Remember when we talked about what it would take to relocate? - by badger - 12-15-2014, 09:07 PM



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