The year 2022 saw the pandemic subside and record-high inflation steals the limelight. Believe it or not, the US is nearing a recession as the economy remains volatile and the GDP is on its way down. At such times, small and medium businesses need to be on their toes to survive the upcoming economic downturn,…
A security or bond that pays dividends or returns ad infinitum is perpetuity. In the business world, the term helps businesses know their market value and acts as a guide for stakeholders and investors to assess investment opportunities on the fly. Over time, perpetuities have faded from the limelight, and less than a handful of…
Being a small business owner, it is extremely important to compile and report your financial data accurately. When you have complete clarity about your finances, you can check out the insights of the business and also determine the areas which require improvement. You might have heard about trailing twelve months or TTM. TTM or trailing…
A W-9 tax form, in a nutshell, is a form that is used by a person to report a certain kind of taxable income. This form help businesses obtain important information regarding the payees to prepare the information returns for the IRS. Let’s have a look at this W-9 form in detail. What Is A…
Cost recovery plays a crucial role when it comes to defining a business’s taxable income, and it can impact the decisions related to investment. To understand better, let’s dig in to find out what actually is a cost recovery method. What Is A Cost Recovery Method? Cost recovery is a method in which a business…
A tax invoice is a vital piece of evidence that a seller gave services or goods to a buyer. A customer can demand a tax invoice for their own record, but if the seller is not registered, he would not be able to produce one. To understand more about what is a tax invoice, let’s…
It is not easy to manufacture something, and definitely not cheap. There are so many costs that go behind the manufacturing of a product that it becomes very hard to keep track. All of these costs are known as manufacturing overheads. Let’s look in detail at what manufacturing overhead is, its formula, and how to…
Knowing the right questions to ask an accountant can put you at an advantage, whether you are an owner of a business or planning to start a new business. Read more to find out how? It is important to be well-informed and well-prepared about the market and to have questions to ask an accountant. A…
A CPA (Certified Public Accountant) is considered one of the most vital professionals to business owners. Besides helping in financial jobs, a CPA also helps file and maintain tax returns. They have an insight into business strategies and can help businessmen plan and set their financial goals for the future. Like everything else, CPA services…
Journals are known as the backbone of accounting. They are the records of the financial operations of the business. These entries can be recorded manually or by using accounting software. Subsidiary ledgers are used if the entries are recorded manually, and if they are registered with the help of accounting software, they go straight into…
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