CTP
JUNE 10, 2022
Since the sale has already occurred, these are taxed at ordinary income tax—a rate that taxpayers likely want to avoid since it can be as high as 37%. The business may also have fixed assets, such as manufacturing equipment, furniture, vehicles, or other tangible assets.
CTP
JUNE 10, 2022
The business may also have fixed assets, such as manufacturing equipment, furniture, vehicles, or other tangible assets. These are taxed at the often lower capital gains rates, but they can also be subject to depreciation recapture. That amount becomes tax-free because we are simply reducing the sales price.
Simple Accounts
MARCH 30, 2022
Three terms used in a balance sheet are Accounts payable, Accounts receivable, Prepaid Expenses. . Raw materials: The unprocessed materials needed for the manufacture of the desired product. You must be aware of new changes in tax, accounts, etc. Are accounting and auditing the same?
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