This article goes over the basics of writing a will. It explains what people need to be identified, what clauses need to be included, and what happens in probate. After reading this article the read ...
Keeping up with your record-keeping throughout the year will make things a lot easier come tax time. Taking a little extra time to make notes on receipts while you still remember what they were for, ...
A brief overview of the different types of bankruptcy and the downfalls to declaring bankruptcy. Also, we will look at some alternatives to bankruptcy and look to see what the future holds in store fo ...
Reading financial statements may not be like leisurely reading a good novel, but when it comes to your own company, your investments, or potential investments, you have money at stake in being able to ...
One of the keys to the success of your small business will be not only having sufficient capital and financing, but also properly managing your finances. Some of the principal aspects involved in mana ...
Once you have finished preparing and filing your income tax return, what do you do with your supporting documentation? Which records do you need to keep, how should you file them, and how long do you ...
Among the many decisions you have to make when you start up a small business, one of them is the legal structure under which you want to operate. Each type of structure has its relative advantages, a ...
Things may very well get a lot more exciting if accounts payable are out of control in your business. Understanding some basic internal control concepts and applying them in your business can keep th ...
Managing cash and controlling costs are crucial to any business. There may be times when you have to actually cut costs, either because they are excessive, or because your business is going through a ...
When you start up a business and set up your accounting, what values do you assign to your assets? Or, when you acquire property by purchase, exchange, conversion, or other means, what value should b ...
“The accompanying notes are an integral part of these statements” is a phrase you will see at the bottom of the financial statements. This means that reading the notes in conjunction with the fin ...
Deductible charitable contributions for U.S. federal income tax purposes are voluntary donations or gifts made to organizations that are religious, charitable, educational, scientific, or literary in ...
Using a pre-defined chart of accounts that you find in a bookkeeping or accounting software package may work fine for your business. Or you may find that you need to adapt or accommodate the chart of ...
Commuting expenses from home to work and back are generally not tax deductible expenses. But you may be able to take a deduction for transportation expenses if you have more than one work location, s ...
If you use your own vehicle for business purposes, you may be able to take a tax deduction. If you are an employee, you can deduct the expenses as an itemized deduction. If you are self-employed, yo ...