For example, Jeff earns $20,000 per year. He elects to contribute $4,000 to his 401 plan, and his employer matches 25%, or $1,000. His Social Security wages are $20,000, but his elective deferral contribution is still subject to FICA, and the. Read more
However, this time, your client insists that they paid only $1,500. You can also use letters as identifiers for invoice numbers. Let’s say you have a client called Smith Air Conditioning. The first invoice might be SA0001, and future invoices w... Read more
If you can't file your income tax return on time, you can get an extension until October 15. However, to get the extension, you have to request it before midnight tonight. To make the request, either file Form 4868 or make. Read more
The estimated percentages are then multiplied by the total amount of receivables in that date range and added together to determine the amount of bad debt expense. The table below shows how a company would use the accounts receivable aging method. Read more
But if the mechanic runs into an unexpected problem removing the calipers and the brake job takes four hours, you will still pay $500. Here are the most frequently asked questions when it comes to USPS flat rate shipping.... Read more
The most common way to earn interest that is tax-exempt at the state and local levels in addition to the federal level is for an investor to purchase a municipal bond issued in his or her state or locality of residence.. Read more
Better credit risk management also presents an opportunity to greatly improve overall performance and secure a competitive advantage. Risk-based pricing – Lenders may charge a higher interest rate to borrowers who are more likely to default, a practi... Read more
Keeping up with your accounts receivable is key to maximizing cash flow and identifying opportunities for financial growth and improvement. In being proactive and persistent in ensuring that debts owed are paid in a timely fashion, businesses can boo... Read more
Otherwise, you could find yourself without evidence if an audit occurs in the future. Since some employees may make small office supply purchases with petty cash, keeping the tax receipt is all the more important. Without it, you won’t have any... Read more
When the bakery does not bake any cake, its variable costs drop to zero. Unlike fixed expenses, you can control variable costs to allow for more profits. Variable costs are expenses that change directly and proportionally to the changes in business. Read more
