If it meets that criteria, there's a good chance it's a legitimate expense. If the expense is reasonable and necessary for the operation of your business, it's an allowable expense. I'm going to guess that bookkeeping is one of those things you may w... Read more
And the company is usually required to pay an insurance fees for one year or more in advance. In this case, it needs to account for prepaid insurance by properly making journal entries in order to avoid errors that could lead to misstatement on both... Read more
Below, you'll find the average costs of different services compiled with data from the NSA's most recent survey. "For someone who has super basic returns — so W2 income, maybe just taking the standard deductions — those will probably be in the few $1... Read more
QuickBooks Payroll allows you to input an employee’s direct deposit details while running payroll and even change pay methods—from direct deposits to paychecks and vice versa. Note, however, that you need a subscription to QuickBooks Payroll&rs... Read more
The Bureau of Labor Statistics (BLS) projects that jobs for bookkeepers, accountants, and auditing clerks will decline by 5% from 2021 to 2031. However, the profession will still add 197,600 openings annually to fill roles held by retirees or job cha... Read more
Increasing numbers of startup companies are using cryptocurrencies for operational, transactional, and investment purposes, and the wide range of these transactions creates a need for crypto accounting. Founders of healthcare startups deserve an acco... Read more
While those aspects are key to your business’ success, so are your finances. The good thing about legal expenses is you can get an estimate of how much the services you need will cost beforehand, which you can then add into your startup budget.... Read more
To determine your effective tax rate, divide your total tax owed (line 16) on Form 1040 by your total taxable income (line 15). If you had $45,000 of taxable income, however, most of it would still fall within the 12% bracket, but the last few hundre... Read more
Many law practice management systems integrate with Quickbooks Desktop and Online. Users would be wise to confirm that the functions that they need are included in the integration. This means the product allows you to differentiate between client tru... Read more
There are tons of administrative and tax-related regulations you must learn and comply with. Say you paid your monthly rent expense of $300 on October 13th. To understand journal entries better, let’s take an example. This type of software is m... Read more
