Bookkeeping

Employees covered by collective bargaining agreements must refer to the agreement to determine appropriate salary changes. Overall, the compensation analyst works closely with managers and supervisors to assist them in…

Next year, this disability income threshold for the non-blind is increasing to $1,550 per month. The much-anticipated announcement this past week was the cost-of-living adjustment (COLA) for 2024. COLA is…

Retained earnings, reflected in the income statement, are used to reinvest in the business or pay off debt, contributing to the company’s growth and financial stability. The difference between preferred…

Activities you do as a hobby, or mainly for sport or recreation, are often not entered into for profit. Generally, you can deduct the full amount of a business expense…

Long-term debt compared to total equity provides insight relating to a company’s financing structure and financial leverage. Long-term debt compared to current liabilities also provides insight regarding the debt structure…

An accountant would say you are “crediting” the cash bucket by $600. When your business does anything—buy furniture, take out a loan, spend money on research and development—the amount of…

One example of allocation in accounting practice is when a company allocates the cost of goods sold to each product. This is done to understand the cost of producing each…

The first part is the date of declaration, which creates the obligation or liability to pay the dividend. The second part is the date of record that determines who receives…

In both situations, have the notice handy and state the penalty (or penalties) you want them to consider—for example, a late filing penalty on a 1099-NEC form—and a clear reason…

But, if the issues are not entirely clear, are close-calls, or legally debatable, Appeals Officers, unlike an examining agent, have settlement authority. However, the process can take anywhere from four…