Remove accounting terms Remove income tax Remove Retail Remove Tax
article thumbnail

Tax Forms Explained

MazumaBusinessAccounting

As we approach tax season, it is important to understand different types of tax forms, and why we need them. If you’re hiring a new employee, or trying to report your income tax returns, you have come to the right place! Tax forms are essential for all small businesses and must be filled out properly.

Tax 69
article thumbnail

What is COGS in Accounting and How to Calculate It?

Snyder

” COGS is also an accounting term under U.S. Generally Accepted Accounting Principles (GAAP) that requires businesses to apply certain inventory costing principles. COGS is included in business expenses on the income statement. Based on that, businesses try to keep their COGS low and their net income high.