Category: Bookkeeping

Although most businesses have to pay federal unemployment (FUTA) taxes, you may be eligible for a FUTA tax credit if you’ve already paid into a state unemployment fund. The taxes withheld from an employee’s paycheck are federal income tax, state income tax, and their portion of Social Security and Medicare tax. The employee Social Security… Continue reading Taxation on Business: Income Taxes, How to File, & More Intuit TurboTax Blog

Accounting is the process of recording, classifying and summarizing financial transactions. It provides a clear picture of the financial health of an organization and its performance, which can serve as a catalyst for resource management and strategic growth. Propel Your Accounting interprets the financial records put together by bookkeepers to assess a company’s financial health,… Continue reading Utah Bookkeeping Experts Save Time & Money

EFT payments are frequently used in place of paper-based payment methods—like checks and cash—to make transactions faster and safer. Simply put, electronic funds transfer (EFT) is a modern what is an eft method of transferring money between bank accounts electronically, without the need for physical exchange. EFT systems are used by individuals, businesses, and financial… Continue reading What Is an Electronic Funds Transfer?

Earnings may be determined on a piece-rate, salary, commission, or some other basis, but in all such cases the overtime pay due must be computed on the basis of the average hourly rate derived from such earnings. This is calculated by dividing the total pay for employment (except for the statutory exclusions noted above) in… Continue reading When Are Employers Required to Pay Overtime?

The form is designed to prevent the higher withholding rates that generally apply to payments made to U.S. citizens and residents. Instead of being treated as a U.S. tax resident, the foreign individual or entity completing the W-8BEN can benefit from a reduced withholding rate or even complete tax exemption, depending on the tax treaty… Continue reading What is Form W-8? Understanding Types, Requirements & Filing Process

At the same time, it demonstrated how cloud technology in business applications can be both safe, and efficient. While Wave doesn’t come with some of the more advanced features as QuickBooks does, Wave still has a self-service support portal and all the basic functions you need for a startup business. This software level supports up… Continue reading What is QuickBooks? A Complete Small Business Guide

By adhering to these regulations, companies can make informed decisions that benefit both their financial flexibility and the trust of their shareholders. To illustrate, consider a hypothetical company, “Tech Innovate,” which issues callable shares at $100 with a call price of $110. If the company’s technology becomes a market leader and the share price soars… Continue reading Callable Shares: The Company s Call: Understanding Callable Shares in the Non Cumulative World

Running a successful business in Bellevue, Washington, requires more than just passion—it demands financial clarity and stability. With Bellevue’s dynamic business environment and competitive local market, managing cash flow, payroll compliance, and expense tracking can become overwhelming. That’s why professional bookkeeping is essential for your long-term success. Bellevue bookkeepers by service The master’s in accounting… Continue reading What Is a Master’s in Accounting Degree? A Comprehensive Guide

Total Capital includes all borrowed money plus Share Capital and Retained Earnings. Retained earnings represent a crucial component of a company’s financial health and strategic planning. This comprehensive guide explores the concept of retained earnings, its calculation, significance, and impact on business finances. Revenue is the total income earned from sales before expenses, while retained… Continue reading Retained Earnings Balance Sheet Template in Excel, Google Sheets Download

This means you can break down services or products by project or change order, making everything easy for you and your clients. Zoho Invoice’s Word Invoice Template makes invoicing simpler and more efficient. Each invoice includes key details like invoice numbers, due amounts, tax percentages, client information, and more, making the billing process extremely straightforward.… Continue reading Free Blank Invoice Template