Author name: mmgja

Small Business Bookkeeper Richmond Hill will ensure that you do not miss key business deductions. Keeping records of business expenses organized sounds simple enough until they get lost. And when these kinds of mistakes happen, business transactions often end up improperly categorized or not recorded at all. They were spending too much time and money […]

If these expenses are combined, you do not need to support the business purpose of each expense. Instead, you can divide the expenses based on the total business use of the listed property. You can find the applicable percentages for listed property that is 5- or 10-year recovery property in Table 19 or 20 in

In this case, accountants will help you estimate how much taxes you owe for a specific quarter so you don’t have to pay too much annual income tax due by the end of the year. By hiring accountants, they will help you properly keep track of your financial records either through simple Excel sheets or

If a customer pays more than an invoiced amount, intentionally or not, the firm can choose to issue a debit memo to offset the credit to eliminate the positive balance. If the credit balance is considered material, the company would most likely issue a refund to the customer instead of creating a debit memo. This

Let’s say you are trying to decide whether to sell some business assets. Doing a net of tax calculation for both years can show you which year might be the best, giving you the lower tax effect. The tax implications are different for married couples filing joint returns or for heads of households than they