In addition, if you’re considering going public, it’s a smart move to have your accounting in order before you file your registration statements. These number gurus are considered one of the most essential professionals to small business owners. While...
This influences which products we write about and where and how the product appears on a page. This may influence which products we review and write about (and where those products appear on the site), but it in no...
AP can include services, raw materials, office supplies, or any other categories of products and services where no promissory note is issued. Since most companies do not pay for goods and services as they are acquired, AP is equivalent to a stack...
This is because an asset might be in good physical condition after a few years but it may not be used for production purposes. So, as an asset moves towards the end of its useful life, the benefit gained...
If a company is selling to its customer and issuing a Note Receivable rather than an Accounts Receivable, a Revenue account would be credited to record the revenue. Tim’s Tool Co. wants to expand into new territory, but it...
Paying in advance is another way to cut costs while ensuring you’re efficiently keeping track of invoices. Small business expense tracking is a lot less painful than doing it manually if you have the right tool. Accounting software helps...
Credit and debit cards regularly have an equal 16-digit card number, expiration date, and IN (private identity number) code. Debit cards permit financial institution clients to spend their cash with finances already inside the financial institution, including checking accounts....
The Foreign Earned Income Exclusion (FEIE) allows eligible individuals to exclude a portion of their foreign earned income from U.S. taxation. This exclusion can significantly reduce or eliminate the U.S. tax liability on foreign income. However, the specific amount...
We are committed to making financial products more inclusive by creating a modern investment portfolio. By contrast, a venerable, established company that barely returns anything to shareholders could try investors’ patience. And a high payout generally means that share...
You should also consider the “materiality” of your sales tax, or whether it is worth collecting based on how much you are selling. There are times when the cost of collecting and remitting tax exceeds that generated by the...
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