Airbase

DECEMBER 5, 2023

This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. Table of Contents FirstHeading What is expense reporting? Schedule a demo What is expense reporting? Types of expense reports.

Approval Workflows 130

Approval Workflows Expense Management Entertainment Technology 130

ThomsonReuters

AUGUST 24, 2023

Jump to: What is tax depreciation? What is bonus depreciation? How to calculate tax depreciation What are the tax depreciation methods? What is MACRS? What is tax depreciation? It is the recovery of an asset cost over a number of years or, in other words, the asset’s useful life.

Tax 87

Tax business tax tax return Account 87

Airbase

OCTOBER 23, 2023

In the world of finance and procurement, accuracy and accountability are paramount. Three-way match has long been an important control measure practiced by accountants to make sure that what was purchased, what was received, and what was paid are fully aligned. Table of contents What is 3-way matching?

accounts payable 130

accounts payable AP Automation Technology accounting and finance 130

ThomsonReuters

OCTOBER 31, 2023

Jump to: What is depletion expense? What is depletion expense? In accounting, the depletion deduction enables an owner or operator to account for the reduction of the mineral property’s value or basis as a result of the extraction of those natural resources. Who can claim depletion expenses?

Tax 59

Tax tax preparation Legal Account 59

ThomsonReuters

JANUARY 5, 2023

For example, the business standard mileage rate can be used instead of determining the amount of fixed expenses (e.g., Fixed costs (e.g., This is the same rate that was in effect during the second half of 2022 (see our Checkpoint article ). gas and oil) that are deductible as business expenses.

Transportation 104

Transportation Tax Account accountant 104

ThomsonReuters

AUGUST 25, 2023

What is the standard mileage rate? Tax depreciation is the recovery of the cost of property, such as a business vehicle, over a number of years. A portion of the cost is deducted every year until the taxpayer fully recovers the cost. Jump to: Can you deduct vehicle depreciation on taxes? Let’s take a closer look.

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

AUGUST 25, 2023

Jump to: What is tax depreciation on rental property? What are the depreciation systems? What is tax depreciation on rental property? Tax depreciation on rental property enables the property owner to recoup some of the cost of income-producing property through yearly tax deductions. What are the depreciation systems?

Tax 52

Tax Account accountant accounted 52

ThomsonReuters

FEBRUARY 1, 2024

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? So, what are the GAAP accounting rules?

Non-Profits 52

Non-Profits accounting standards Maine accounting and finance 52

ThomsonReuters

JULY 25, 2023

Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. –

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

DECEMBER 22, 2021

For example, the business standard mileage rate can be used instead of determining the amount of fixed expenses (e.g., Fixed costs (e.g., This is a 2-cent increase from the rate of 16 cents per mile that was in effect for 2021 (see our Checkpoint article ). gas and oil) that are deductible as business expenses.

Transportation 98

Transportation Tax Account accountant 98

Mark Lee

OCTOBER 17, 2023

When accountants ask me how they can distinguish themselves from their immediate competition, I remind them that whilst the work output may be much the same (in terms of accounts and tax returns), the service, style, approach and fees may be very different. In other cases they may be on a page that references fees.

Account 94

Account accountant accounted tax return 94

ThomsonReuters

DECEMBER 23, 2020

For example, the business standard mileage rate can be used instead of determining the amount of fixed expenses (e.g., Fixed costs (e.g., This is a 1-cent decrease from the rate of 17 cents per mile that was in effect for 2020 (see our Checkpoint article ). gas and oil) that are deductible as business expenses.

Transportation 98

Transportation Tax Account accountant 98

ThomsonReuters

OCTOBER 19, 2023

Jump to: What is amortization of a bond? How to calculate bond amortization What is a sinking fund? In this article, we’ll explore what bond amortization means, how to calculate it, and more. What is amortization of a bond? What are the benefits of bond amortization? Are bonds payable amortized?

auditor 52

auditor Tax accounting and finance Account 52

Xero

JULY 11, 2022

The council includes myself, Samuel Burmeister of Tall Books (advisor), Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (analyst), Wyndi and Eli Tagi of WE Accounting (advisors) and Aaron Wittman of XBert (app developer). But what can owners do to build trust with their customers? What comes next.

Technology 130

Technology Education Start-ups Government 130

CPA Practice

JULY 21, 2023

Today, they account for 99.9% Lowering your energy costs doesn’t just promise a fixed benefit either. Rather than starting from scratch, spend time evaluating what your biggest competitors are doing. From that point onward, you can save on your monthly energy costs and in many states sell electricity back to the grid.

Washington 98

Washington accounting and finance Start-ups Finance 98

Mark Lee

OCTOBER 24, 2023

Conversations with the accountants who are or have been my clients reveal a wide range of such rates. We have all heard the arguments, I am sure, for charging ‘value based’ fees or ‘fixed’ fees – and I am a big supporter of such approaches – in the right circumstances. Don’t you?

Tax 94

Tax tax return Account accountant 94

Inform Accounting

APRIL 26, 2022

Instead of working out the VAT that you need to pay over to HMRC by deducting input VAT from output VAT, you pay a fixed percentage of your VAT-inclusive turnover. The VAT that your need to pay to HMRC for a quarter is simply the fixed rate percentage as applied to your VAT-inclusive turnover. Limited cost businesses.

tax planning 52

tax planning Tax tax return Government 52

Xero

APRIL 16, 2023

The ability to send and receive invoices directly between accounting systems (and eliminate the need for manual, error-prone PDFs sent via email) offers some very exciting benefits. So, what sort of future state could reasonably exist if futuristic technologies were built to work together? Let’s picture another scenario for JB.

Non-Profits 96

Non-Profits bookkeeping Technology accounting software 96

Cheap Accounting

AUGUST 31, 2023

Whatever the size or structure of your business dealing with your accounts and tax returns comes with the territory. You can claim for pre-launch costs incurred through your business even if they were paid out of your own funds. Keep receipts and invoices then record the amounts spent in the accounts. What taxes will I pay?

Start-ups 75

Start-ups Account accountant accounted 75

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is indirect tax? Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. What is indirect tax? The cost ultimately falls on the consumer or end user.

Tax 52

Tax income tax Manufacturing corporation tax 52

ThomsonReuters

APRIL 18, 2023

For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. What are common payroll errors? For business owners, payroll is complex and often their greatest expense. for partners). However, those dates are partly determined by the total taxes employers report on Form 941.

payroll 107

payroll payroll tax Tax audit 107

ThomsonReuters

MAY 10, 2022

What is Superfund? Who is affected by Superfund and what are their challenges? additional human errors through manual workarounds that add to the effort required to fix compliance errors before the return is finally filed). Challenges created by Superfund for business tax and IT professionals.

Technology 98

Technology Tax accounting and finance Manufacturing 98

ThomsonReuters

MARCH 12, 2024

Jump to: Identify the common barriers to change Overcome the barriers with communication Reframe the narrative Remember your clients Set the expectations for adaptation Running an accounting firm can feel like you’re constantly chasing changes. Identify the common barriers to change If it’s not broken, why fix it?

cpas 52

cpas Technology accounting firms Tax 52

ThomsonReuters

OCTOBER 5, 2023

Jump to: What is amortization in accounting? What are the different amortization methods? Some assets will fall under amortization accounting. What is amortization in accounting? What are intangible assets? It is the concept of incrementally charging the cost (i.e., So how does this look?

Account 52

Account accountant accounted Expense Amortization 52

ThomsonReuters

NOVEMBER 10, 2022

Tax departments must also take into account external factors such as inflation and rising interest rates, which add pressure to contain costs and minimize leakage. Are you spending too much time fixing errors? Are your systems 100% reliable, and if not, how much is down-time costing the company? The perfect tax tool.

Tax 59

Tax Technology corporation tax Account 59

Mark Lee

AUGUST 15, 2023

Regular readers will know that, on this blog I share, what I hope is, constructive and unbiased advice for accountants in practice. Today I offer you a cautionary warning about what have been termed ‘marketing bullies’. Some are just bullies in pinstripes” he said. Of course I was wrong.

Account 52

Account accountant accounted Construction 52

inDinero Tax Tips

NOVEMBER 4, 2021

Even if your books are perfectly accounted for, an IRS audit letter will fill anyone with a sense of dread. In this article, we will discuss what an audit is, why you might get audited, and how to prepare for an audit. In this article, we will discuss what an audit is, why you might get audited, and how to prepare for an audit.

audit 98

audit Tax tax return tax preparation 98

ThomsonReuters

MAY 6, 2022

For small and mid-sized tax and accounting firms, there are plenty of ways to do so. 8 ways small and mid-sized accounting firms can increase profitability. Word-of-mouth referrals are a powerful thing for any business, but even more so in tax and accounting. Cross-sell tax and accounting services to existing customers.

Tax 87

Tax Account accountant accounted 87

Snyder

JULY 13, 2022

What does this transfer to managed payments mean for their sales rates and business flow? What are the advantages and disadvantages of payments managed by eBay? What is the eBay Managed Payments system? How to set up Managed Payments account on eBay. What is the eBay Managed Payments system? Contents: 1.

E-commerce 98

E-commerce accounting and finance Sales quickbooks 98

Snyder

OCTOBER 31, 2022

In this article, we’ll answer all your questions so you can have a better picture of what it’s like — to start your own small business with Shopify. How to add a blog to your Shopify store? Your next step will be choosing what to sell in your Shopify store. Start with what you have. How to customize a Shopify store?

E-commerce 97

E-commerce Start-ups Tax Sales 97

Mark Lee

NOVEMBER 1, 2022

Estimated (or maybe even quoted a fixed) fee for a specific piece of work and then allowed the scope of the work to evolve slightly. And then we see the WIP reports and realise that the cost over-runs are more than we anticipated and certainly more than the client might have expected. So what do we do? And then a bit more.

Account 52

Account accountant accounted 52

5 Minute Bookkeeping

MAY 27, 2021

What should you do if you are working on a massive QuickBooks Online cleanup and you come across a mysterious balance in an account called Opening Balance Equity on the balance sheet? You probably won’t recall ever adding that account to QuickBooks Online, or categorizing any transactions to/from it.

quickbooks 52

quickbooks bookkeeping Start-ups Account 52

Mark Lee

SEPTEMBER 27, 2022

Lots of accountants I work with used to struggle to charge what they feel they’re worth for the work they do. Mostly what’s required is an increase in confidence and improved communication. One accountant I mentored told me that he was quite happy with his basic fee quotes. Be clear as to what is covered.

bookkeeping 52

bookkeeping Start-ups Account accountant 52

Snyder

APRIL 25, 2022

If you don’t have proper inventory management, you’re running the risk of incurring unnecessary costs ( just think of all those extra shipping and handling fees ) and disappointing your customers. The first step is to know what’s in-and out of stock with an accurate inventory management system. Contents: 1. Dropshipping.

E-commerce 98

E-commerce Maine Manufacturing Start-ups 98

ThomsonReuters

MARCH 28, 2023

Rising costs Along with increasing speed and complexity, the cost of global compliance is going up. Trying to keep up with the agility needed, without the proper tools, is eventually going to lead to mistakes, which can be costly to investigate and fix. What are the benefits of automation?

Tax 59

Tax Technology corporation tax Government 59

CPA Practice

JULY 28, 2023

But if you’re selling online and shipping items all over the state or country, you may not know what sales tax rate to charge. This blog post can help you understand your sales tax requirements by answering the following questions: Is sales tax based on shipping address or billing address? Can I use a ZIP code to find a sales tax rate?

Sales 98

Sales Tax Retail New Mexico 98

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? What is a sales tax audit? A sales tax audit often occurs when a state tax agency suspects a business of understating its reported sales or when the sales tax return filed with the state doesn’t match what was reported to the Internal Revenue Service (IRS).

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audit Sales Tax auditor 105