July 29, 2022
Charles Lutwidge
What You Need to Know about IRS Receipts Requirements
It’s a well-known fact for all entrepreneurs that they have to keep receipts to claim deductions when it comes to filing taxes. But if you are launching a business for the first time, you might be interested in all types...
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July 27, 2022
Charles Lutwidge
How to Calculate and Pay Estimated Taxes
Quarterly estimated taxes might seem like a heavy burden since taxpayers have to make calculations and pay four times a year. But typically, estimated tax payments may even reduce the tax burden when it’s tax season. Instead of worrying about...
July 25, 2022
Charles Lutwidge
For How Many Years Must You File Back Taxes
Filing tax returns is the most convenient way of taking care of back taxes. The IRS (Internal Revenue Service) has no official limitations of how long a taxpayer may file past due tax returns. It’s a tricky issue since taxpayers...
July 22, 2022
Charles Lutwidge
What is an Invoice Number And How To Generate It
A number always has to be assigned to an invoice, which affects the financial reporting and general documentation. Keep reading the article to learn what an invoice number is and why it’s important. Invoice Definition An invoice is a bill...
July 21, 2022
Charles Lutwidge
What’s the Difference Between Gross Pay and Net Pay
Starting a business is always exciting. You get a chance to optimize your small business, find clients, new directions, etc. An expansion of a business means you need employees. And here comes the not-so-exciting part — dealing with payroll. Payroll...
July 19, 2022
Charles Lutwidge
What is the Financial Accounting Standards Board (FASB)
The Financial Accounting Standards Board is an independent non-profit organization launched to create and optimize financial accounting standards in the private business sector. Keep reading the article to learn more about FASB and how it works. You will also learn...
July 15, 2022
Charles Lutwidge
What is a Deposit Slip
You may have heard about deposit slips since they are commonly used when depositing money in a bank. In some cases, bank customers must fill out deposit slips to direct their funds to the correct bank account. A deposit slip...
July 13, 2022
Charles Lutwidge
Mark to Market Accounting: What is it and How it Works
Mark-to-market is a way of estimating the fair value of accounts subject to fluctuations over time, for instance, assets and liabilities. Its goal is to provide realistic time-to-time estimations of the company’s or institution’s financial health based on the current...
