December 22, 2021
Charles Lutwidge
What Is Tax Liability?
A tax liability might sound very familiar, yet confusing. However, you should not get scared. Simply put, it is the amount of taxes you would need to pay to the IRS. It is the total debt you owe to the...
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December 21, 2021
Charles Lutwidge
Customer Invoice
Meaning An invoice is a document that a seller creates and then sends to the buyer. It relates to a transaction that already took place or will take place and lists the products or services the buyer receives, quantities, along...
December 20, 2021
Charles Lutwidge
Form 1065: U.S. Return of Partnership Income
First, let’s say that there are many types of Partnerships legally, but as far as taxes are concerned they are the same. If you’re a multi-member LLC who is not in business with your spouse, then the default is a...
December 17, 2021
Charles Lutwidge
What You Need to Know About Independent Contractor
There are several indicators that point out that one is an independent contractor rather than an employee. Although these are negotiable, they determine the rates on their own and decide when and where to invest their time and effort. They...
December 16, 2021
Charles Lutwidge
What is a Full Charge Bookkeeper
Role overview Accountants are persons that record the day-to-day transitions for commerce into the book-keeping records. Typically, in many small companies, that might be one person, so no one else is taking care of any of the bookkeeping tasks. Thus,...
December 15, 2021
Charles Lutwidge
Month-End Close Process
Concept Overview When it comes to bookkeeping and accounting, there is so much one needs to learn. First of all, let’s define the concept. Closing of the bookkeeping accounts is a procedure that happens at the end of each month...
December 14, 2021
Charles Lutwidge
Percentage of Completion Method
Some types of services (projects) are performed not at once, but over a span of several reporting term. Examples of such projects include the construction of large buildings or other structures by contractors as well as software development. In this...
December 13, 2021
Charles Lutwidge
GrowthForce Review
GrowthForce is an outsourced bookkeeping, accounting, advisory, and controller services provider. It was founded back in 2004 and has a main office in Kingwood, TX. It is one of the largest outsourcing companies in the United States that helps different...
