Real Estate Accounting Services Tax Services Boston CPA
Meet Stephen Atcheler, the Managing Director of a Real Estate Virtual Assistant Company. Stephen has been working in the industry since 2013 and has a wealth of experience in making outsourcing work for real estate businesses. He fell in love with real estate at a young age and has been working in the field since […]
Major Tax Package Heads to the Senate Call TODAY to Protect Nonprofits!
The Better Business Bureau recommends that nonprofits spend under 35% of their funding on fundraising efforts and spend at least 65% on programs. A nonprofit budget is a financial document used to plan how an organization will spend its money. It encompasses both your expenses and expected revenue for a set period of time. These […]
Budgeting for Non profit Organizations
A systematic approach to predicting revenue and expenses builds a strong financial foundation. A well-planned budgeting process is key to your nonprofit’s success. Nonprofits fund employee salaries through diverse revenue streams, including grants, donations, program fees, and earned income. Many organizations include salary costs in grant proposals and build appropriate overhead into their program budgets. […]
S Corp Payroll Guide: How it Works and Tax Benefits
Some months also end up having three pay periods instead of gross vs net two—making your annual total closer 26 or 27 and sometimes pushing up payroll costs. On a semi-monthly payment schedule, you run payroll twice each month (or 24 times per year). Employees are typically paid on either the 1st and 15th of […]
Leaseback Agreement: What It Is & How it Works
In this way, a leaseback agreement enables you to escape the shadow of foreclosure and relieve yourself of the responsibilities that come with homeownership. Suppose a commercial real estate (CRE) investment firm is interested in acquiring an office building property. Notably, the real estate investor (or buyer) acquires a controlling interest in a stabilized property […]
Inventory accounting: IFRS® Standards vs US GAAP
In a real-world scenario, the impact of LIFO can be even more pronounced, especially for companies dealing with commodities or products subject to significant price fluctuations. For instance, an oil company using LIFO might report substantially different profits compared to one using FIFO during periods of volatile oil prices. Usually, companies can choose between three […]
Honest accurate bookkeeping services in Orlando, FL
Ultimately it is important to do research when considering hiring a tax preparer and make sure you understand what their fees are before beginning work on your return. A busy business owner or anyone with too many duties can end up making mistakes or forget to pay a bill on time. We have seen business […]
Chart of Accounts
All payables go through a classification step called General Ledger (GL) coding. GL coding is an exhaustive process that helps identify a broad range of values for each invoice. All the above challenges faced by the AP processing team are mainly due to outdated manual processes. These challenges can be overcome by automating the AP […]
Understanding Contra Expense Accounts in Financial Accounting
The amount on the equity contra account is deducted from the value of the total number of outstanding shares listed on a company’s balance sheet. Contra account is important as it not only allows a company to report the original amount of a transaction but also report any reductions that may have happened so that […]
What Your Organization Needs to Know about Nonprofit Budgeting
Insurance and https://namesbluff.com/everything-you-should-know-about-accounting-services-for-nonprofit-organizations/ legal compliance costs are mandatory to safeguard the organization against potential liabilities. Not only do they protect the organization, but they also build trust with donors and beneficiaries by ensuring that operations meet required legal standards. The first expense to consider is office space rental and related utilities. Rent often makes up […]