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Incorporation: Definition, How It Works, and Advantages
Forming a corporation is more costly than forming any other business entity. There are also more legal requirements, including restrictions on how the corporation must be managed, than with other business entities. The process of incorporating and then maintaining the corporation can take thousands of dollars per year plus attorney’s fees. The main advantages of […]
Disposal of Fixed Assets Journal Entries
This is common with electronic equipment, also known as e-waste, which contains valuable metals that can be recovered and reused. 👉 It generates revenue from the sale, which can then be reinvested in the business. A production tool is purchased for $10,000 and must participate in the activity of the company for 10 years. Fixed […]
Working Capital Formula + Calculator
Shaun Conrad is a Certified Public Accountant and CPA exam expert with a passion for teaching. After almost a decade of experience in public accounting, he created MyAccountingCourse.com to help people learn accounting & finance, pass the CPA exam, and start their career. The suppliers, who haven’t yet been paid, are unwilling to provide additional […]
Accounting Ratios Overview, Examples, Formulas
Financial statements tell the story of financial health through various metrics, such as cash flow, liquidity, and profit and loss. The goal may be to hold current levels steady or to strive for operational growth. Operating profit as a percentage of sales is referred to as operating margin. The operating profit margin would be 60% […]
HOLMERTZ-PARSONS CPA Updated November 2024 1935 S Alpine Rd, Rockford, Illinois Accountants Phone Number
Specifically, the restrictions apply only to additional costs incurred by having your non-employee spouse travel with you. However, the amount of money you can take out of the corporation this way is limited. Under tax law, only compensation deemed to be reasonable can be deducted. Do You Run A Business From Home? To qualify for […]