Category: Bookkeeping

Their unadjusted basis after the section 179 deduction was $15,000 ($39,000 – $24,000). They figured their MACRS depreciation deduction using the percentage tables. The numerator (top number) of the fraction is the number of months in the short tax year and the denominator (bottom number) is 12. For example, a corporation placed in service in …

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This election is available if you treat these amounts as capital expenditures on your books and records regularly used in computing your income and expenses. Next, compare this percentage to your markup policy. Little or no difference between these two percentages shows that your gross profit figure is accurate. A large difference between these percentages …

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The cheapest QuickBooks plan starts at $30 a month—higher than any of our other recommended bookkeeping solutions. And if you want the best reporting QuickBooks can offer, you’ll need at least the $55 Essentials plan or, preferably, the $85 Plus plan. Since your software for accounting is connected to the cloud, they can use their …

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The 500 year-old accounting system where every transaction is recorded into at least two accounts. Accounts receivable list the amounts of money owed to the company by its customers for the sale of its products. Not all companies will pay dividends, repurchase shares, or have accumulated other comprehensive income or loss. Drawings are amounts taken out …

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We strive to provide a fulfilling client experience that adds value to your business and exceeds your expectations. Please join us to learn how iLab can optimize the management of your core facility. Marcum’s direct involvement in the mining industry gives us a deep understanding of issues that can seriously impact your business. Marcum is …

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