Bookkeeping
A Guide to Independent Contractor Taxes
Our partners cannot pay us to guarantee favorable reviews of their products or services. We also offer full audit representation for an additional fee wit...
NEWS
Bookkeeping
Understanding Posting Dates in Financial Management
When a transaction occurs, it is recorded in the journal with both a debit and a credit entry, reflecting the dual impact on the financial statements. Thi...
Bookkeeping
How to Report Backdoor Roth in TurboTax
An ideal backdoor strategy uses non-deductible contributions to keep the tax impact low. While the process is simple, the IRS rules and tax ramifications ...
Bookkeeping
Incremental Cost of Capital: What It is, How It Works
In other words, it is the cost increment that occurs when the level of production or sale of a product increases. This cost represents the difference betw...
Bookkeeping
What Is Straight Line Depreciation?
The depreciation expense appears on the income statement, reducing taxable income, while accumulated depreciation is shown on the balance sheet as a contr...
Bookkeeping
Understanding employment taxes Internal Revenue Service
Every amount reported on a T4 slip has a box or ‘code.’ For example, employment income is always reported in box 14. This will help estimate the annual in...
Bookkeeping
Self-Employed Accounting Software for Solopreneurs
Currently we don’t support partnerships or multi-property income or capital gains. By offering a range of customer service options, QuickBooks Self-Employ...