Notice that bad debt expense in this case is simply the other half of the entry to get the balance sheet account adjusted. The focus in this case is on the net realizable value of the receivables, and the income

It is worth noting that the adjustments can be made for each item in inventory or for the aggregate of the entire net realizable value inventory to the lower cost or NRV. Once curtailed down, the inventory account becomes the

Our CFO services are designed for nonprofits that are ready to think strategically, not just tactically. Maureen Cross, CPA is committed to finding accounting solutions for non-profit organizations like churches, charities, and schools. My experience working with a wide variety

In addition to running Choice Tax Relief, Logan also owns the personal finance blog Money Done Right, which educates thousands of readers a day about making, saving, and investing money. Logan also runs a YouTube channel on which he publishes

Wage garnishment is a debt collection tactic that takes funds directly from the debtor’s employer in the form of wages withheld from each paycheck. In most cases, the creditor must first win a lawsuit against the debtor before initiating a

A gift tax is a federal tax applied to an individual giving anything of value to another person. For something to be considered a gift, the receiving party cannot pay the giver full value for the gift but may pay

For the purpose of financial statement reporting, the amount on a contra account is subtracted from its parent account gross balance to present the net balance. Pilot provides bookkeeping, CFO, and tax contra revenue account services for literally thousands of startups

I don’t want to be concerned about all those things and I don’t need to be, with RUN. From basic payroll to a full suite of HR tools and services, get what you need, when you need it with our

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To know more about our filing service to file 099-MISC, visit eFile360 e-filing service. If the IRS determines that you have intentionally disregarded the filing, then the penalty is $550 per form. If you meet one or more of