Category: Bookkeeping
Interest Income Definition, Example, and How to Compute
Most promissory notes have an explicit interest charge, and although some notes are labeled as “zero interest,” there is often a fee built into the note. Hello and...
Comprehensive Guide to Virtual Accountants
It also syncs with either QuickBooks Online or Netsuite (as opposed to syncing just with QuickBooks, like most virtual bookkeepers). Get a glimpse into our latest...
Publication 526 2023, Charitable Contributions Internal Revenue Service
This form will contain information on the broker, the shares, and the donation. Deductions for contributions of long-term capital gain property (such as appreciated...
A Guide to Nonprofit Accounting for Non-Accountants Bench Accounting
From financial reporting to revenue recognition to grants and contracts to auditor report changes, you have a lot going on in the not-for-profit QuickBooks financial...
Freshbooks vs Wave: Which Is Better for Your Business?
In contrast, FreshBooks has a robust online resource library and a basic troubleshooting chatbot. You can request help directly from your FreshBooks dashboard, which...
Bank Reconciliation: Definition, Example, and Process
The company can now take steps to rectify the mistakes and balance its statements. Another possibility that may be causing problems is that the dates covered by the bank...
Client Accounting Services: The Outsourced Solution Every Small Business Needs
With these strategies in your toolbox, it will be much easier to entice prospective clients for your bookkeeping business. Remember, you don’t need to do all these...
Understanding Methods and Assumptions of Depreciation
If a company routinely recognizes gains on sales of assets, especially if those have a material impact on total net income, the financial reports should be investigated...
S Corp Tax Calculator: Uncover Tax Savings for Your Business
Thus, you will owe $30,600 (15.3% of $200,000) in self-employment taxes. S Corps, offer a unique blend of corporate structure and tax efficiency, making them ideal for...
Tax shield Wikipedia
An interest tax shield approach is useful for individuals who want to purchase a house with a mortgage or loan. The person gets the benefits while he offsets his taxable...
