Sammy Hair Salon and Barber Shop
All 501(c)(3) organizations are automatically classified as private foundations unless they can prove they meet the IRS standards to be considered a public charity. The deductibility of contributions to a private foundation is more limited than donations for a public charity. According to Broadsource.com, in the US alone there are over 1.6 million of them. …
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Content Everything to Run Your Business Small Business Accounting How can you calculate your small business revenue? Accounting Profit vs. Economic Profit with Examples How to Calculate Sales Revenue Net income formula: an example Total revenue vs. net revenue Looking at and analyzing your revenue can help you recognize if you’re charging too much or …
Content Different margins What is the Income Statement? Simple Income Statement Format Income statement vs. balance sheet and other financial statements Beginners’ Guide to Financial Statement Filling out the income statement What are some advantages of contribution margin income statements? It is one of the standard financial statements that have to be prepared by an …
Content What is the Cash Over and Short Account? indicate by account name which accounts should be debited and which should be credited when preparing journal entries…. Handling your accounts payable Using accrual accounting and cash disbursement journals Accounting for cash transactions Plagiarism Checker Cash Over and Short Cash Over and Short acts as a …
Journalizing Petty Cash Transactions Financial Accounting Read More »
A review of the key components of Waterfall and Agile allows project leaders to select among them to build a hybrid approach based on the unique demands of each project. When choosing a mileage tracking app, consider your budget as well as your needs. A freelancer or solopreneur will be looking for something different (and …
Best Accounting for Small Business Methods: How to Choose One Read More »
Content IRS/State Forms Updated IRS Nationwide Tax Forum Tips for Tax Professionals to Protect Their Information Updated IRS forms 433-A, 433-B, and 8821 Bannon Pushing for Tax Hike on Wealthy The Summit plays a pivotal role in this fight, significantly reducing confirmed identity theft returns. Four years ago when we started irsLogics as a product, …
Content Enterprise Resource Planning in the IT Industry What Is the Difference Between an ERP and MRP? Six key benefits of ERP ERP Explained Either way, at some point an Excel spreadsheet won’t do and an ERP system will allow a business owner to operate the company more efficiently. Material Requirements Planning (MRP) – A …
Medicare Part B is a supplemental medical insurance. Premiums you pay for Medicare Part B are a medical expense. Check the information you received from the SSA to find out your premium. 936, Home Mortgage Interest Deduction, for more information. If death benefits are paid to you in a lump sum or other than at …
Self-Employment Tax Social Security and Medicare Taxes Internal Revenue Service Read More »