Businesses

Articles

Home Auto Family Finance Health & Beauty House & Home Insurance Legal Pets Professional Services School & Work Seasonal Shopping & Fun Sports & Fitness Vacations & Travel
Change Topic →

Accounting and Taxes

Accounting, bookkeeping, finances and taxes are topics that individual consumers, businesses, and professionals sometimes have questions about. Our experts have put together some great basic information that may answer your questions.


What is tax accounting? Tax accountants are certified public accountants with extensive training that includes a degree in finance or accounting with special expertise and focus on taxation. That means they are trained in the complexities of preparing tax returns, both on the state and federal level, for individual and business clients. A person who...

Read Article →


There are two basic accounting methods used in most accounting today. One is the cash basis of accounting, and the other is the accrual basis of accounting. The cash basis is not recognized by the Generally Accepted Accounting Principles, (GAAP), so the accrual basis is the more approved and used accounting method. In the cash...

Read Article →


Certified public accountant (CPA) firms can provide invaluable assistance, come tax time. Here are some of the ways a CPA can help you with your tax preparation. Minimize Your Tax Debt. Since CPAs have a breadth of knowledge that extends beyond tax preparation, they can work with you year-round, configuring a tax plan and recommending...

Read Article →


The IRS uses the tax audit process to confirm the accuracy of the details on a taxpayer’s income tax return. Typically, the audited individual will receive a tax audit letter in the mail informing him or her of the type of audit that will be taking place, as well as the nature of the audit,...

Read Article →


An IRS tax levy is literally a legal seizure of a taxpayer’s property to satisfy a tax debt. A levy is different from a tax lien, as a lien is a claim used as security for the debt, whereas the levy actually takes the property. Application of a Tax Levy The two most common tools...

Read Article →


A profit loss statement is one of the basic, yet most important business accounting forms. It’s very important to understand the basics of the profit and loss statement (also called a P&L statement or an income statement), because it gives a very accurate snapshot of your business for a given time, which helps show the...

Read Article →


If you’ve gotten an IRS audit notice, you’re probably panicking. If you’re being audited, you need IRS audit help to deal with the audit. If you hire a professional to represent you, it could save you money in the long run. Professionals are used to dealing and negotiating with the IRS, so you have a...

Read Article →


Are you ready to consult a tax professional concerning your IRS tax returns? Perhaps your annual return is more complicated this year, or maybe you simply don’t have the time to do it. Fortunately, there are many options for the taxpayer in terms of what types of tax services are available today. Individual tax preparers...

Read Article →


There are a number of simple bookkeeping tasks that small business owners should consider turning over to a professional bookkeeper. A bookkeeper is responsible for logging in all the financial transactions for a company, making sure that all accounts balance at the end of every day. Bookkeepers may be asked to perform audits to verify...

Read Article →