Bookkeeping

If you are a self-employed individual, you will pay a total of 15.3% in self-employment tax. Scroll down to find out how your net pay would look like in other US states and see how you stack up against the average salary and minimum wage in your state. Calculating the Take-Home pay could be a […]

Although notes are not inherently problematic for accounting purposes, they can be troublesome when interest rates are lower than what would normally apply to similar notes. The issue date discount on notes payable is a way to extend the life of a loan or to access fresh credit. An issue date discount on notes payable

Double declining balance is sometimes also called the accelerated depreciation method. Businesses use accelerated methods when having assets that are more productive in their early years such as vehicles or other assets that lose their value quickly. Depreciation is double declining depreciation the act of writing off an asset’s value over its expected useful life,

In this method, the depreciated percentage is charged on the net book value of a fixed asset. This netbook value is the remaining balance of fixed asset cost after deducting the overall depreciation charged for the previous years. Thus, the depreciable value diminishes every year, and so does the depreciated expense. The value of the

The software can streamline data entry, automate repetitive tasks, and provide real-time financial insights. With the right software, your bookkeeping for small law firms becomes much smoother – leaving you more time to focus on client work. By embracing technology and seeking professional help, law firms can navigate the complexities of trust accounts and avoid