Author: Anfisa Dmitrieva

The New York Department of Labor website may have additional specific information on wage laws in the state. $9.00 an hour for employers with four or more employees. The Nebraska Department of Labor website may have additional specific information on…

Here are a few types of costs for new business owners to consider. While every type of business has its own financing needs, experts have some tips to help you figure out how much cash you’ll require….

A non-operating expense is an expense incurred from activities unrelated to core operations. Non-operating expenses are deducted from operating profits and accounted for at the bottom of a company’s income statement. Examples of non-operating expense…

Operating expenses include marketing, rental and administrative expenses. Discontinued operations refer to sold or shuttered business units….

Many line items in the cash flow statement do not belong in the operating activities section. This increase would have shown up in operating income as additional revenue, but the cash had not yet been received by year end. Thus, the increase in recei…

The earned income tax credit is worth up to $6,557 for a family with three or more children. One out of five taxpayers who are eligible for the credit fails to claim it, according to the IRS. Some taxpayers miss this valuable credit because they are …

All paid-up capital is listed under the shareholders’ equity section of the issuing company’s balance sheet. Legal capital is that amount of a company’s equity that cannot legally be allowed to leave the business; it cannot be distributed through a d…

The payment of the insurance expense is similar to money in the bank, and the money will be withdrawn from the account as the insurance is “used up” each month or each accounting period. Prepaid insurance is usually considered a current asset, as it …

The IRS has special rules for educational institutions that provide lodging for their employees. The value of certain campus lodging is not taxable if the employee pays adequate rent….

The opening balance is the amount of funds in a company’s account at the beginning of a new financial period. It is the first entry in the accounts, either when a company is first starting up its accounts or after a year-end. The opening balance may…