Anfisa is a talented accountant.
In this blog she talks about accounting services, payroll, investment consulting, tax training and much more.
AnfisaWDmitrieva@www.business-accounting.net
Phone: 303-647-3438
The IRS requires independent contractors to pay self-employment taxes. Currently, that means you will pay 15.3 percent for social security, 12.4 percent for Medicare, and 2.9 percent for both. The downside is that your employers won’t contribute to your 401(k), workers’ compensation, bonuses, unemployment taxes, payroll taxes, or health insurance (K). The Occupational Safety & … Continue reading “Bookkeeping for Independent Contractors and Small Businesses”
Dummies helps everyone be more knowledgeable and confident in applying what they know. Where the amount paid doesn’t exactly match the total value, the amount left over is paid from the last invoice selected.
Enter the expense details such as the date, the category the expense falls under, and the expense amount. On the opening screen, you’ll see an icon labeled Snap Receipt. Click on it, and your phone’s camera will open (you’ll be asked for permission to use it). Docu […]
When the program was conceived, high-wage earners were exempt from paying into the fund and from receiving Social Security benefits. The Internal Revenue Service provides an Income Tax Withholding Assistant to help you determine how much tax you need to withhold and report as an employer. Depending on income, employers fall into different tax brackets. Ontario applies a health premium tax to all payrolls on a sliding scale up to $900 per year. For example, if you were a semiweekly depositor who […]
At the taxpayer’s request, security will be released either when tax on the entire gain is paid or proportionately every other year after the posting of security. To request a full or partial release of security, a taxpayer must send a letter directly to the Installment Sale Unit, setting forth all relevant details and computations after electronically filing their return reporting the gain. What should the seller do if the buyer fails to make all the agreed installment payments? […]
The amount to sell upfront is usually a function of your skittishness over the current value of your stock and whether you need the money to make a significant purchase in the near-term. It’s hard to take emotions out of your own personal financial decisions, so our research team conducted an analysis using historical data to illustrate the best scenarios. A great way to avoid worrying about when to sell is by automating the decision. A vendor note is a short-term loan made to a customer […]
The difference is the amortization that reduces the premium on the bonds payable account. It is also true for a discounted bond, however, in that instance, the effects are reversed. The redemption amount generally equals how much the original investor paid to acquire the bond. However, the redemption amount can be different than the acquisition cost.
In other words, the bond trading at a premium will offer less risk than the bond trading at a discount if rates rise any more, which can make up […]
The sum of all outstanding amounts owed to vendors is shown as the accounts payable balance on the company’s balance sheet. An accounts receivable subsidiary ledger shows the transaction and payment history of each customer to whom the business extends credit. A subsidiary ledger (sub-ledger) is a sub-account related to a GL account that traces the transactions corresponding to a specific company, purchase, property, etc.
When the amounts owed to suppliers and other third parties are not […]
It doesn’t form part of complete financial statements and can’t be used as a substitute for Audited Financial Statements. The partial income statement is not audited by auditors and that makes them less reliable compared to audited statements. It can be extremely misleading to present such snippets of information, so be sure to state which line items are being disclosed, preferably in the header of the partial income statement. Using this information, (more…) […]
Besides, implementing strategic price models like tiered pricing, volume pricing, and bundled pricing allows your customers to upgrade to higher plans on their own. The switch to the subscription model allows companies to focus on improving customer retention through better customer service and improved customer relationships. Instead of developing project plans and focusing on their products (more…) […]
Percentage-of-receivables method The percentage-of-receivables method estimates uncollectible accounts by determining the desired size of the Allowance for Uncollectible Accounts. Rankin would multiply the ending balance in Accounts Receivable by a rate based on its uncollectible accounts experience. In the percentage-of-receivables method, the company may use either an overall rate or a different rate for each age category of receivables. Another way to estimate the amount of uncollectible acc […]
