Section 199A: Qualified Business Income Deduction QBID

Income earned through a C corporation or by providing services as an employee is not eligible for the deduction. For more information on what qualifies as a trade or business, see Determining your qualified trades or businesses in the Instructions for Form 8995-A or Form 8995. Income thresholds play a vital role; for single filers, […]

Free Hotel & Motel Invoice Templates All Formats, All Types

Implement a verification process where invoices are reviewed before being sent to guests. Ensure that all taxes and fees are correctly calculated and clearly mentioned. Regularly update your invoicing software or system to ensure it is functioning correctly. By taking these steps, you can minimize errors and maintain accurate records. This ensures that the guest […]

Creating a flexible budget Accounting and Accountability

A flexible budget cannot be downloaded into accounting software to be compared to financial figures. Only then can financial statements with budget versus actual information be issued, which delays the issuance of financial statements. It is the calculated difference between the planned or forecast budget against the actual results. As the production level is set […]

5 reasons to outsource your bookkeeping CPAs and Advisors

You pay more during busy seasons and less in slow periods, unlike when you maintain a regular staff that you must pay with a fixed amount regardless of the work volume. The BPO firm’s specialist team can efficiently handle these responsibilities should your business outsource bookkeeping. Picture your business expanding and your in-house accounting team […]

Shareholder’s Equity Formula How to Calculate Stockholder’s Equity?

Treasury shares can always be reissued back to stockholders for purchase when companies need to raise more capital. If a company doesn’t wish to hang on to the shares for future financing, it can choose to retire the shares. The equity capital/stockholders’ equity can also be viewed as a company’s net assets. Why Is Company […]

Savings Vs CD Vs. Money Market: Which Offers The Best Rates?

Earning a high interest rate on your savings deposits can help your money grow faster. Nina Godlewski is a journalist turned content marketer, she has a bachelor’s degree in communication studies from Northeastern University. She loves to research complex business topics and break them down to make them more accessible to readers. She worked as […]

How to do Bookkeeping for Child Care Businesses?

Owning a daycare facility (or any child care business, for that matter, like early learning centers and preschools) has a lot of moving parts – literally, with the kids! Business owners no longer have to spend hours manually crunching their numbers in spreadsheets every week. Automatic accounting in your business allows you to see every […]

Miscellaneous Expense Examples for Small Business Owners

These losses qualify as casualty theft losses, which are claimable on Form 4684 as miscellaneous business expenses. Miscellaneous expenses appear on your business’s income statement as the small transactions that don’t fall into your defined business expense categories. They are grouped in the general ledger as ‘Miscellaneous expenses’, rather than being listed individually. For example, […]