Depreciable Business Assets: What Are They?

Table 4-1 lists the types of property you can depreciate under each method. It also gives a brief explanation of the method, including any benefits that may apply. MACRS provides three depreciation methods under GDS and one depreciation method under ADS. To 8 types of risk and risk management investment make an election, attach a […]

Gross Pay Definition, Examples, How to Calculate

For most employees, it includes regular hourly wages or salary, overtime pay, tips, commissions, and bonuses. Net pay is a worker’s total take-home pay, or what’s left after payroll taxes and deductions are taken out. Some common deductions include FICA payroll taxes, income tax withholdings, health insurance, and retirement contributions. Some deductions are mandatory, while […]

QuickTips:Voiding Checks from Prior Periods by QuickBooks® Made Easy

If you already sent a check to someone, then it is not possible to void it. The recipient will be able to cash the check unless you immediately contact your bank and have them issue a stop payment on that check. Doing so will block the bank from honoring the check when the payee presents […]

How to Charge for Your Bookkeeping Services

Now here’s the bonus, she reduced her work hours without lowering her income. As a result, she’s regained her personal time and reduced her overwhelm. For one-off tasks like “QuickBooks setup” or “Create annual budget”, set a price to complete that task. While this isn’t a new concept, the term value pricing has been more […]

Payroll fraud: Definition and prevention tips

You must ensure that production is always at optimum level and that workers are satisfied with the company culture. Another critical aspect of managing a company is safeguarding against defrauding activities like payroll fraud. It’s not only sinister, but it’s more ubiquitous in small businesses than you might think. A 2020 report by the Association […]

Which Accounting Method is Right for Your Business?

This can be done easily by keeping a pocket notebook in which you jot such expenses, or using a notetaking app such as Evernote on your smartphone. If your LLC bookkeeping is straightforward and basic, there is very little reason to hire an accountant, even if you have scant experience with financial matters. Much of […]

Accumulated Depreciation: Everything You Need To Know

Using these variables, the accountant calculates depreciation expense as the difference between the asset’s cost and its salvage value, divided by its useful life. This results in a total of $4,000 of depreciation expenses per year. The double-declining balance (DDB) method is another accelerated depreciation method. After taking the reciprocal of the useful life of the asset and […]

Principal Definition & Meaning

Principle also has a variety of possible meanings as a noun. These include “a general or fundamental truth,” “a governing law of conduct,” and “underlying or basic quality that motivates behavior or other activities” (as in “such principles of human nature as greed and curiosity”). Again, principle differs from principal not only in meaning, but […]

The Best Preferred Stocks For 2021

These dividends can be fixed or set in terms of a benchmark interest rate like the London InterBank Offered Rate (LIBOR)​, and are often quoted as a percentage in the issuing description. Non-cumulative stocks do not create dividends in arrears if the company cannot pay dividends. If the company that issued your non-cumulative preferred stock […]

Что такое таймфрейм на форекс и как его выбрать? ФИНАНСЫ

Является обязательной функцией в любом торговом терминале. Зачастую обычного создания нестандартного ТФ оказывается недостаточно для корректной работы алгоритма программы. Поэтому трейдерам приходится проверять, появился ли график в меню. Для этого нужно через вкладку «Эксперты» найти функцию «Открыть автономию» и в открывшемся меню можно найти созданный таймфрейм. Для того чтобы понять целесообразность выбора долгосрочного или краткосрочного […]