Category: Bookkeeping

Now that you know the percentages, you can calculate your FICA by multiplying your pay by 7.65%. Between keeping an eye on any changes with the IRS, awaiting your W-2 …

When a state imposes higher taxes than a neighboring state, businesses will cross the border to some extent. Therefore, states with more competitive tax systems score well in the Index …

Alternatively, they can allow up to 20% of the maximum allowed contribution to be rolled over to the next year. Funds not used or rolled over are absorbed back into …

We do so not only because the Tax Foundation’s expertise is in taxes, but because every component of the Index is subject to immediate change by state lawmakers. It is …

She writes about business and personal credit, financial strategies, loans, and credit cards. Another good idea to ensure you’re a low-risk investment is to take a look at your business …

Debits are always on the left side of the entry, while credits are always on the right side, and your debits and credits should always equal each other in order …

Deferred revenue accounting can be complex, but there are some best practices that can help you stay on top of it. Of the $1,000 sale price, we’ll assume $850 of …

Referring to the example above, on August 1, when the company’s net income is $0, it would see an increase in current liabilities of $1,200, which would result in cash …

Depreciation reduces the recorded cost of the asset on the company balance sheet. The depreciation expense is recorded on the income statement and offsets taxable income. On the other hand, current …

So, when the business consumes assets, it needs to be removed from the balance sheet in line with the usage. In that case, they need to encounter all of the …

“I don’t have interest in simply filing tax – I have an interest in educating my clients to make better, well-educated farming decisions. I want them to know the implications …

You do not have a farming business if you 1) contract the harvesting of a commodity from someone else or 2) buy or resell plants or animals from someone else. …

Over time, Congress expanded federal minimum requirements and provided new coverage requirements and options for states especially for children, pregnant women, and people with disabilities. The Children’s Health Insurance Program …

We handle the business administration so you can focus on what matters most – better outcomes for the children in your care. No contracts, no set-up fees, no per-child charges …

Equity multiplier is a leverage ratio that measures the portion of the company’s assets that are financed by equity. It is calculated by dividing the company’s total assets by the …

This method is only used when the investor has significant influence over the investee. Under this method, the investor recognizes its share of the profits and losses of the investee …

For example, consider a soap manufacturer that previously paid $0.50 per bar for packaging. Should the company enter into an agreement to pay $500 for all packaging for all bars …

The Contribution Margin represents the revenue from a product minus direct variable costs, which results in the incremental profit earned on each unit of product sold. If the smoothie company …

You can deduct 50% of self-employment tax that you calculated on Schedule SE, because the IRS considers the employer portion of the self-employment tax to be a deductible expense. There …

InDinero is a full-service accounting software with accounting and tax preparation service in one. Like Bench, there is a human element to the service, but you’ll have to reach out …