Posts Categorized: Bookkeeping

Accountants working in specialized fields like forensic accounting, cost accounting, and financial advising may decide to pursue CPA licensure to boost their reputation and provide their clients with additional services. Public accounting firms can range in size from a sole practitioner to hundreds or thousands of CPAs, offering services locally, regionally, nationally, or internationally. Some… Read more »

For product B, two labor hours are needed per unit, so the overhead per unit equals two times $48, or $96. The predetermined overhead rate calculation shown in the example above is known as the single predetermined overhead rate or plant-wide overhead rate. Company B wants a predetermined rate for a new product that it… Read more »

This will typically be a week from Sunday to Saturday, but it could end on another day of the week if a worker is paid on a weekly basis. Rolled-up holiday pay is to be paid in addition to the worker’s normal salary, which should be at National Minimum Wage or above. If annual leave… Read more »

Contents: We’re out to build a Family of 25,000 Certified Digital Bookkeepers by 2025 Relax—pay employees in just 3 steps with Patriot Payroll! Your business numbers are telling a story. Are you listening? There are plenty of ways to connect with clients online, such as videos, blog posts, and social media posts. The biggest thing… Read more »

Joining the firm in 2018, Wyatt’s quick rise to the position of COO within just a year is a testament to his unparalleled skillset and forward-thinking approach. Holding a Bachelor of Science Degree in Accounting from the prestigious Chapman University, Madelyn’s academic credentials are as solid as her professional prowess. Her commitment to the field… Read more »

Small businesses, accountants and bookkeepers locally and across the world trust Xero with their numbers. Let me start by saying, these are just two of the more popular programs. One of the keys to being a trusted advisor is finding solutions that work for your clients, regardless of the perks offered by a vendor. No… Read more »

To figure your deduction, first determine the adjusted basis, salvage value, and estimated useful life of your property. The balance is the total depreciation you can take over the useful life of the property. The declining balance method calculates more depreciation expense initially, and uses a percentage of the asset’s current book value, as opposed… Read more »

You should do your best to adhere to your business’ tax obligations and stay up-to-date with relevant tax laws. In Miami the general sales tax rate is 6% but this can change depending on your business. Make sure you know what rate to charge, and that you’re adhering to regulations. Start by creating a budget… Read more »

Content Wisely Pay by ADP Card – HR Service – Office of Human … LIVE Interview with UGG Founder and Business Leader Brian Smith – Noon on April 7 Compare Your School Options Activate Wisely Login myWisely Official Cardholder Site ADP Mobile Solutions provides you with an easy and convenient way to access payroll, time… Read more »

Find a professional, experienced contractor who can get the results you have in mind. Compare the costs and services they offered and hire a pro for your project. Although made of very simple ingredients—water, cement and stone—concrete can take your home’s exterior to a whole new level. Narrow down your search by looking for companies… Read more »

Content How Progressive Is the U.S. Tax System? America Already Has a Progressive Tax System Personal tools What Is the Purpose of a Progressive Tax? What are the advantages and disadvantages of progressive taxes? The tax slabs divide the tax liability from 0% to 45% among the citizens. As of2021, there are seven tax brackets… Read more »

For this reason, retained earnings decrease when a company either loses money or pays dividends and increase when new profits are created. Both U.S. GAAP and IFRS require the reporting of the various owners’ accounts. Under U.S. GAAP, these accounts are presented in a statement that is most often called the Statement of Stockholders’ Equity…. Read more »

The interest will be received on a predetermined schedule (usually semiannually, but sometimes annually or quarterly). However, it will be a problem when the issuer retires the bonds before the maturity date. At the end of each year, the debt issue cost will be reclassed from the assets to expenses on the income statement. A… Read more »

Content More Definitions of IOLTA account How to Set Up an Account in Trust Examples of IOLTA account in a sentence British Dictionary definitions for trust account Failing to keep your client and business accounts separate Attorneys often handle their clients’ money; for example settlement checks, or advance payments for court costs or other expenses…. Read more »

Content Notable 2022 State Individual Income Tax Changes TURBOTAX CD/DOWNLOAD: More on Excise Taxes Businesses that make retail sales or provide retail services may be required to collect and submit retail sales tax (see Marketplace Fairness – Leveling the Playing Field). Combining data across three cross-sectional data sources yields some inconsistency in time periods studied…. Read more »

Content Difference Between CPA & PA Understanding a Certified Public Accountant (CPA) Comparative differences between a CPA vs. PA vs. EA Services provided Want More Helpful Articles About Running a Business? There are primary functions that accountants and CPAs have to conduct. The primary functions that a CPA has to conduct are carrying out assurance… Read more »