CategoryBookkeeping

This includes the taxable income of the individual that is reported on the composite return. The filing deadline for 2022 Massachusetts state income tax returns was April 18, 2023. To have qualified for a six-month extension, you must have paid at least 80% of the total amount of tax owed by that mid-April deadline. If...
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Accountants, in particular, must have a strong understanding of assets and how they affect a company’s finances. Accounting often involves looking at the relationships between assets and other key metrics of a business’s finances, like revenue, liabilities, and equity. Some assets are recorded on companies’ balance sheets using the concept of historical cost. Historical cost...
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Download our free guide that shows you the most common accounting mistakes made by business owners and how to avoid them. Tax return questions from small business owners are one of the most common things CPAs get asked about. According to a recent tax literacy survey done by the American University in Washington D.C., “37...
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If the industry considered has a high degree of automation and mechanization then this method can be used. Here the major chunk of the cost comes from the utilization of the machines. It is calculated as (overhead cost/ number of machine hours) This is very useful if the running cost of the machines including rent...
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