Don’t waste time with complicated accounting tasks that you don’t fully understand. Not only will you be able to save a lot of time but you’ll also reduce the risk of making expensive mistakes. If you’re not a qualified accountant or you simply don’t have the time, you should consider hiring an accounting professional. Windes […]
Category Archives: Bookkeeping
Contracts for this method are detailed to make it clear when revenue recognition takes place. This allows you to recognize revenue as it comes in instead of waiting until the end of a long project. The installment plan is familiar to anyone who holds a mortgage or has bought large machinery and paid for it […]
To overcome these shortcomings, FASB and IFRS joined hands to establish a new revenue recognition standard, called the ASC 606 Revenue from Contracts with Customers. Revenue recognition is important for SaaS businesses because the amount of revenue that may be earned in a given period may not relate to the amount billed or cash collected. […]
Likewise, if you have the land, you can also plant and grow trees to sell timber in the future (you’ll need a lot of time and patience for the trees to grow). I’m not suggesting you buy an https://adprun.net/ RV to make money by renting it out (although many people have done this). But if […]
During this time, the Child Support Services Program is encouraging case participants to join with them in taking steps to reduce the need for visits to the local Child Support Enforcement offices. The Agency eChild Support Portal provides alternatives to handle common activities such as obtaining the case status and payment information. Please refer to […]
Along with attorneys and Enrolled Agents, CPAs may represent taxpayers in matters before the Internal Revenue Service . Although the IRS regulates the practice of tax representation, it has no authority to regulate tax return preparers. In 1660, the first person who would conduct an audit was chosen in order to be able to manage […]
Instead, you collect sales tax at the time of purchase, and you make payments to the government quarterly or monthly, depending on your state and local rules. The amount recorded as sales allowance is the amount of reduction in the original sales price. You want to make sure you’re taking all of these costs into […]
If the funds are for personal use, you cannot deduct the interest expenses. For U.S. federal income tax purposes, DFC are generally amortized over the life of the debt using the straight-line method. At the end of year 5, the bonds payable will reach the $ 10 million amount (check Carry Amount Column), and it […]
Remember that your request will add to your audience’s already busy day, so acknowledge the time and effort necessary to address your request. Finally, always be as specific as possible about what you expect your reader to do and provide the necessary information so that the reader can successfully fulfill your request. Here are just […]
The requirements for licensure in Texas ensure that Arun Mago maintains the highest standard of knowledge and ethics when operating as an accountant. CPAs may practice as a public accountant, work in private industry, education or government, and are often considered experts in tax preparation. Arun Mago, CPA is a local tax preparer at Arun […]