How to Calculate Sales Tax

Determining which laws apply to your business is hard, but it’s a crucial step toward compliance. For more information, please refer to our guide to nexus laws and sales tax collection requirements. Tax rates can vary within a county, a city, or even a ZIP code. Using a street address helps to ensure more accurate rates […]

Best Bookkeepers in Louisville Kentucky Bookkeeping Services

If you need all or just some work done, we are willing to accommodate. Our rates are reasonable and well below what most accountants louisville bookkeeping services are charging in the area. We try our best to keep you with the bookkeeping team you’re assigned when you come on board. If you are in Louisville, […]

TOP 10 BEST Tax Accountant in Madison, WI Updated 2024

Accountants may offer a package rate for weekly, monthly or annual services to reward ongoing customers. Nationally, full-time staff accountants earn between $40,000 and $80,000, depending on experience and other factors. Kane CPA offers financial and tax planning services to clients in Madison and the surrounding areas. It provides tax preparation for corporations, partnerships, and […]

How to hire a bookkeeper for your small business

A lot of virtual bookkeepers use accounting software like Xero or QuickBooks Online. Both are easy to navigate for bookkeepers and accountants alike but require some learning for the typical small business owner. When a virtual bookkeeper uses software you’re comfortable with, you have a smoother onboarding experience and can hit the ground running. You […]

Goodwill Overview, Examples, How Goodwill is Calculated

Remember to record goodwill as a non-current asset since it is considered a long-term investment. Though not required by generally accepted accounting principles, or GAAP, rules, goodwill can be amortized for up to 10 years. Your final step would be to subtract the fair market adjustment, which is $250,000, from the excess purchase price. Goodwill […]

Am I required to make estimated tax payments? Internal Revenue Service

Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Which method makes more sense for you depends on how confident you are about your projected annual income and tax bill. You also have the option when you file your return to apply some […]

Business Property Relief & Inheritance Tax

The value of goodwill is calculated using this method as the average profits over a specified time period. It’s calculated by multiplying the average profits by the number of years it takes to buy something. It comes in a variety of forms, including reputation, brand, domain names, intellectual property, and commercial secrets. Any intangible asset […]

Bookkeeping Service Small Business Accounting Louisville KY IN TN OH

The IRS explains that CPAs, attorneys and enrolled agents are all allowed to legally represent their clients before the IRS. Consider the complexity of your tax return and what level of expertise you’ll require. Before entrusting someone with your private financial and personal information, do some research on their qualifications. The IRS has a searchable […]

Outsourced CFO Services for Business Growth

We engaged Preferred CFO about 8 months ago when our controller left. We were looking for both accounting services and a higher level of CFO type services but without the cost of a full time CFO. Preferred CFO assigned David G as our fractional CFO and Julie T as our accountant. A lot of small […]

List of Assets, Liabilities, and Equity with Examples

You should record a contingent liability if it is probable that a loss will occur, and you can reasonably estimate the amount of the loss. If a contingent liability is only possible, or if the amount cannot be estimated, then it is (at most) only noted in the disclosures that accompany the financial statements. Examples […]