An EIN is required by IRS for you to hire employees or offer benefits. You can track expenses separately and may receive tax benefits or deductions. An EIN is required by banks and credit unions to open a bank account. Once an EIN is secured, you can open an account with the bank of your … Continue reading “Ein number: TIN EIN Information”
Shopify is a force and the dominant software for the marketplace or for selling goods online – and it seems like new improvements are released every week. Because of this, and the desire to always guide our clients down the path of financial health, our team has come up with the best practices for accounting … Continue reading “Ecommerce accountant: eCommerce Accountants Accounting for Ecommerce”
In the U.S., all sellers (whether retailers or drop shippers) are required to collect sales tax if they have sales tax nexus in the state to which the item ships. In the United States, sales tax is imposed on the final consumer. The retailer should be able to purchase items it sells exempt from sales … Continue reading “Drop shipping sales tax: What You Need to Know about Sales Tax and Drop Shipping”
It’s not a big deal if this isn’t perfect, but with some deposits—especially large ones—tellers might require that you have all of your commas and decimals in the right place. For example, if you’re a credit union member using a different credit union’s branch (via shared branching), you’ll need to write in the name of your … Continue reading “Deposit slip: Deposit Slip: What It Is, How It Works, Benefits”
Do not skip this step, because you want to get a feeling of the bookkeeper’s professionalism and ability to communicate. You should also ask about how they would handle a data breach. Their answer should include a plan to contact clients immediately and notify them of the breach. There are several ways to validate the … Continue reading “Dental bookkeeping: What are 5 Common Bookkeeping Mistakes Made in Dental Practices”
Teams that make effective decisions and solve complex problems fast don’t have a superpower; they use decision making frameworks and tools to organize and guide their decision making process. The purpose of this review was to provide an overview of RTS decision frameworks and what constitutes high-quality decision-making. There is a lack of empirical knowledge … Continue reading “Decision making framework: Top 6 frameworks for decision-making LogRocket Blog”
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our … Continue reading “Debt service coverage ratio: Debt Service Coverage Ratio Guide on How to Calculate DSCR”
CPAs also commonly work in government agencies or public companies required to disclose audited financial information. The rigorous requirements of becoming a CPA pay off, as they consistently out-earn unlicensed accountants. Each state has different requirements for taking the CPA Exam and earning CPA licensure. You can check with your state’s board of accountancy to … Continue reading “Cpa vs accountant: Why Choose A CPA Versus A Non-Certified Accountant? My CPA, PA”
