February 04, 2022
Charles Lutwidge
What Is a Sole Proprietorship
Starting a business can be both an intimidating and exciting process. On the one hand, it’s fun to make a dream come true. But on the other, you have to register a business, pay taxes, manage finances, etc. Choosing a...
Delegate your financial records to a highly qualified bookkeeper and forget about bookkeeping stress forever.
January 28, 2022
Charles Lutwidge
Grant Accounting
Organizations that depend on grants should consider grant accounting to register financial statements properly. Grant accounting is a method used to record government grants and other types of assistance. Businesses use the grant accounting method to keep track of grant...
January 27, 2022
Charles Lutwidge
Depreciable Property Definition
A depreciable type of property is a business asset with a lifespan. It’s an asset that is qualified as a business expense and may provide the company with tax benefits throughout the years. Check out the article to learn the...
January 26, 2022
Charles Lutwidge
Nonprofit Audit Guide
Nonprofit organizations are exempt from filing taxes. But it doesn’t mean that the organization won’t have to conduct an independent audit since they have to record financial statements and keep documentation. The state or federal agencies don’t always require a...
January 25, 2022
Charles Lutwidge
List of Small Business Tax Deductions
Small business owners can reduce the tax burden by benefiting from legal tax deductions. Unfortunately, not all business owners educate themselves about tax deductions, so they lose the opportunity to increase their revenue. Using tax deductions to decrease taxable income...
January 24, 2022
Charles Lutwidge
Understanding Your CP2000 Notice
Getting a notice from the IRS means that the agency believes that you left the income off your tax return. It doesn’t mean that a taxpayer has to agree with the IRS every time the agency sends a CP2000 notice....
January 21, 2022
Charles Lutwidge
Best Receipt Tracking Apps for Small Businesses
Accounting and keeping track of all business expenses is one of the main tasks of a business. It is a tedious process if managers have to do everything manually. Luckily, we have all sorts of apps to choose from to...
January 20, 2022
Charles Lutwidge
Basics and Importance of Preparing for an Annual Audit
An audit is a comprehensive assessment of the economic and financial elements of an organization, verification of the reliability of the information in financial reports, as well as analysis and assessment of the prospects for its development, which can be...
