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Understanding depreciation and its impact on corporate tax

ThomsonReuters

Managing corporate tax depreciation Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to minimize their tax liability. What is the purpose of making a provision for depreciation? 167 , to which  Code Sec. 168  applies.

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Boost Your Financial Performance: Reports Your FP&A Team Needs

Acterys

In this blog, we look at three main reporting types that FP&A teams must use to monitor the financial health and performance of a business. FP&A teams are responsible for creating financial statements at the end of the accounting cycle.

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Marketing for accounting firms: individuals vs. small businesses

ThomsonReuters

the potential market available to tax and accounting firms is massive. How to market tax and accounting services. People search online for products and services, including accounting services. A better approach is to build a reputation as an accounting expert. Your sales cycle is much faster. With more than 144.3

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What accountants need to know about rental property tax depreciation

ThomsonReuters

How is depreciation taxed on the sale of rental property? Managing rental property depreciation with software Owning rental property can be an attractive real estate investment for many given the ability to collect rent and profit from the future, long-term sale of the property. There are also tax benefits to be gained.

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Accounting Tips for Start up Freelancers

Cheap Accounting

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. Keep receipts and invoices then record the amounts spent in the accounts. Directors have legal obligations bestowed on them when they are appointed including keeping accounting records and filing accounts.

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S corp vs C corp vs LLC: What’s the difference, and which one is better for your business?

ThomsonReuters

Anyone starting a business should consult a qualified tax professional, such as an accountant or tax attorney, for advice on which corporate structure best fits their goals—but it helps to understand some of the factors that typically influence such decisions.

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Self-Employment Taxes for Small Business Explained

LyfeAccounting

Second, the self-employed pay taxes on their net earnings also known as profit, and not their revenue. Net earnings or profit is calculated by calculating your total revenue and subtracting your expenses. You do not have to pay self-employment taxes if: Your business did not make more than $400 in net income or. Why 92.53%?

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