The problem is that GAAP and the income tax basis of accounting have a lot of differences.

FORBES: How Double Taxed Are Investors ?

Understand a few rules about the taxation of rental income and you could cut your accounting bills or your tax bills or maybe both.

FORBES: Vacation Shelters

The New Jersey Income Tax Act requires taxpayers to claim losses in accordance with their Federal method of accounting, including federal basis rules.

FORBES: Madoff Investors Receive New Jersey Tax Refunds