Bookkeeping

Debits decrease revenue account balances, while credits increase their balances. To be in balance, the total of debits and credits for a transaction must be equal. Debits do not always…

Your car,electronics, and furniture did not suddenly lose all their value,and unfortunately, you still have outstanding debt. Therefore,these accounts still have a balance in the new year, because theyare not…

Overhead costs are expenses that are not directly tied to production such as the cost of the corporate office. To allocate overhead costs, an overhead rate is applied to the…

The P/B ratio is particularly useful for industries with substantial tangible assets, and a lower P/B ratio may indicate that the stock is undervalued. As such, one should only use…

These practices contribute to reliable financial reporting, which is integral to almost every aspect of operating and growing a business. The primary objective of reconciliation is to secured and unsecured…

Neither party may disclose information about the other party’s finances, business transactions, or performance. The specific Ts & Cs can also affect its enforceability, as can the laws of the…

Even if you plan to contribute sweat equity to your house-flipping business, you’ll probably need additional contractors to complete a project successfully. Look for contractors with a portfolio of demonstrable…

ContentRule #2: Gifts to clients must be under $25 per person, per yearFollow IRS rules for holiday gift givingMake Tax Time Easy: How to Keep Records of Tax Deductible GiftsPrepare…

From a bookkeeping point of view, PayPal can also be a pain. With all these different uses, it’s easy to see how business owners and bookkeepers can struggle to understand…

ContentMarginal tax ratesExample of a tax computationCapital gains tax rates and dividend tax ratesHow We Make MoneyContentsTax filing 2022: How to file your taxes So, if you make $1,000,000 a…