tarafından hatip | Ağu 26, 2022 | Bookkeeping
Yes, many miscellaneous expenses can be tax deductible if they are considered necessary and ordinary. Even though miscellaneous expenses tend to be smaller, more minor purchases by nature, they can still add up and detract from a business’s profitability. Proper...
tarafından hatip | Haz 27, 2022 | Bookkeeping
Amortizable bond premium is an important concept for bond investors to understand. It refers to the excess amount paid for a bond above its face value, which can be deducted as an interest expense over the bond’s life. This deduction can result in tax savings...
tarafından hatip | Haz 7, 2022 | Bookkeeping
This method violates the GAAP matching principle of revenues and expenses recorded in the same period. Investors and financial analysts often criticize the direct write-off method for its lack of foresight and its reactive nature. By not estimating bad debts in...
tarafından hatip | Haz 6, 2022 | Bookkeeping
Both require the use of the direct method and provide that the reconciliation be presented. A customers account has a debit balance from a finance charge done in error. It was done in a prior year.How do you amend this debt without raising a credit note as there is...
tarafından hatip | Haz 6, 2022 | Bookkeeping
Since bad debts are often written off in a different period than when the related sales occurred, this can lead to a distortion of both the income statement and the balance sheet. For example, consider a company that extends $1,000,000 in credit to its customers in a...
tarafından hatip | May 16, 2022 | Bookkeeping
Tax Solutions & Bookkeeping is a locally owned and operated company that serves individuals and businesses from Orlando and the surrounding areas. It provides complete bookkeeping set-up, clean-up, and support services, as well as QuickBooks training and...
