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Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. Taxes – federal income and excess profit taxes are disallowed, but state and local taxes including property, franchise, and income taxes are allowed.

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How to Be Prepared for an ERC Audit

CPA Practice

Also, they often don’t inform taxpayers that wage deductions claimed on the federal income tax return for the business must be reduced by the amount of the credit. With an experienced and trusted tax professional providing assistance, you can resolve the matter expeditiously.

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How to Be Prepared for an ERC Audit

CPA Practice

Also, they often don’t inform taxpayers that wage deductions claimed on the federal income tax return for the business must be reduced by the amount of the credit. With an experienced and trusted tax professional providing assistance, you can resolve the matter expeditiously.

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Common Accounting Mistakes: Government Edition - Issue #8 Unallowable Expenses

SMBAccountant

These costs must be recorded in separate general ledger accounts to be easily identified and excluded from any billing. Taxes – federal income and excess profit taxes are disallowed, but state and local taxes including property, franchise, and income taxes are allowed.

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Best Practices for Nonprofits

Withum

Accounts receivable balances in the general ledger should be reconciled to the subsidiary ledger monthly. Fixed assets schedules should be reconciled to the general ledger at least annually. . The organization should have a policy of reviewing past due balances each month and following up on its collection.

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Getting Paid 101: Accounts Payable and Accounts Receivable

xendoo

The actual entries you record in your general ledger differ from business to business. The $1,000 is accounts payable, and you record it in your general ledger by crediting $1,000 on the supplier’s X account. Accounts receivable is an asset account on the general ledger and balance sheet.

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What are APIs and how can they streamline tax provision calculations?

ThomsonReuters

What are the benefits of tax provision software? Tax professionals use tax provision software such as to solve the technical and process issues involved in calculating your income tax provision. API-powered provisioning processes can be more accurate, secure, and efficient than traditional manual methods.

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