Book value is the amount of the asset that has not been allocated to expense through depreciation. When a business purchases a long-term asset (used for more than one year), it classifies the asset based on whether the asset is used in the business’s operations. If a long-term asset is used in the business’s operations, […]

A firm can make a profit, but if it has a problem keeping enough cash on hand, it won’t survive. A business owner should use all the financial metrics and measures available to continually manage liquidity and cash availability. While it can’t lose its value to depreciation over time, working capital may be devalued when […]

The election ends when any of the following applies to the partnership, S corporation, or PSC. A partnership, S corporation, or PSC can make a section 444 election if it meets all the following requirements. A PSC must use a calendar tax year unless any of the following apply. The partner’s tax year that results […]

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Initially, when you’ve input some data, look at your Balance Sheet, Profit And Loss, Aged Receivables, and Aged Payables. Whether you do a […]

Thrift stores and consignment stores are filled with hidden gems and cheap items that can make all the difference for flipping. Check your nearest thrift store for apparel, good-quality shoes, costume jewelry, and more. Unique or high-quality frames are always in demand for home decor and art display, offering opportunities for profitable resale. Flipping has […]

Accounts payable include all of the company’s short-term obligations. Accounts payable (AP), or “payables,” refer to a company’s short-term obligations owed to its creditors or suppliers, which have not yet been paid. what is irs form w Payables appear on a company’s balance sheet as a current liability. There are a number of duties that […]

Double Entry Bookkeeping is here to provide you with free online information to help you learn and understand bookkeeping and introductory accounting. Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all […]

To use our Massachusetts Salary Tax Calculator, all you need to do is enter the necessary details and click on the “Calculate” button. After a few seconds, you will be provided with a full breakdown of the tax you are paying. This breakdown will include how much income tax you are paying, state taxes, federal […]

They’ll help make sure all best practices and internal controls are implemented, ensuring smarter finances. Understanding the key aspects of accounting will help your nonprofit better recognize the financial situation of your own organization. This nonprofit accounting guide is great for anyone wanting to learn the foundation of nonprofit accounting. But, when you grasp how […]

If you buy stuff in town, keep a bin in the car to collect receipts to take into the house periodically. Solvency refers to your ability to pay off all debt if the farm were sold today. We hear a lot about homeowners who are “under water” since the mortgage crisis. The latter is shown […]