The Best Small Business Tax Software in 2024 TRUiC

From my experience, one standout resource that consistently proves invaluable for startups is Xero. This recommendation is rooted in my observations of its impact on simplifying financial processes for early-stage companies. When you’re just getting your business off the ground, keeping costs in check is crucial, and TaxSlayer offers a budget-friendly solution without compromising on […]

Accounting Stress: 15 Methods to Overcome It

We designed a receipt tracking system that makes it easy for him to snap a photo of his receipts and store them in the cloud. During the early days of the pandemic, the SBA was giving businesses PPP loans that were 100% forgivable and low-cost, and easy to qualify for SBA loans. When done properly, […]

Bookkeeping For Gyms: Things You Need to Know

Gym owners must negotiate favorable terms and consider factors such as location, size, and proximity to target customers. Additionally, utilities such as electricity, water, and gas are recurring expenses that need to be monitored closely. In many locations, you’ll need to register Gym Bookkeeping your business with the appropriate local, state, or national authorities, and […]

Balance Sheets 101: Understanding Assets, Liabilities and Equity

For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on Being an inherently negative term, Michael is not thrilled with this description. The global adherence to the double-entry […]

W2 vs Corp To Corp

Because a company is dealing with an independent contractor, they pay to get to choose with whom they will work, for what price and for how long. We are all familiar with employment contracts and individuals working for companies as “employees”. This is to be contrasted with the 1099 tax form where an independent consultant […]

Gross Income vs Net Income: The Differences, Explained 2023

Revenue is the total amount earned from sales for a particular period, such as one quarter. Revenue is sometimes listed as net sales because it may include discounts and deductions from returned or damaged merchandise. Gross income is an important factor in determining a person’s financial standing because it gives an idea of their earning potential and financial […]

Forms 940, 941, 944 and 1040 Sch H Employment Taxes Internal Revenue Service

This blogpost only scratched the surface on IRS Form 941. There’s even more to know about the form, reporting schedules, corrections, and other forms and taxes that must reconcile with Form 941. Investing in a payroll resource guide can be an excellent way to keep up to date with all the changes and adjustments. Note […]

Accounting Equation Overview, Formula, and Examples

It is based on the idea that each transaction has an equal effect. It is used to transfer totals from books of prime entry into the nominal ledger. Every transaction is recorded twice so that the debit is balanced by a credit. A company’s quarterly and annual reports are basically derived directly from the accounting […]

What Assets Are Taxable and What Assets Are Not Taxable?

Inconsistencies in allocation methods should be identified, and a line-by-line analysis of accounts may be needed. Certain areas such as information technology should be analyzed for direct supervision or direct conduct of program activities. The appropriate accounting services for startups level of reserves varies depending on the organization’s size, sector, and risk profile. While there […]

Earnings Per Share Calculator: How to Calculate EPS

Some banks, such as Morgan Stanley, provided adjusted EPS numbers that removed the effects of the tax change in their 2017 reports. In some cases, companies may also provide an adjusted EPS number, which is usually diluted EPS with atypical one-time items removed. Diluted EPS is calculated using a larger number of shares than basic […]