by hisellaw | Apr 4, 2023 | Bookkeeping
When they pay it, it’s known as “self-employment tax” — SE tax for short. Medicare tax is 1.45%, and it’s assessed on all earned income, with no current threshold limits. If you’ve had a loss or just a little bit of income from self-employment for the year, there are...
by hisellaw | Jan 16, 2023 | Bookkeeping
It is essential for businesses to stay updated on any changes to ensure compliance. As we said, gross sales shows your total revenue during a certain period, whether the last month, quarter, or year. If your POS dashboard includes discounts and allowances, it might...
by hisellaw | Nov 23, 2022 | Bookkeeping
The sales invoices represent the goods shipped to customers and includes $1,000 of sales taxes pertaining to its retail customers. The company offers credit terms of 1/10, net 30 days and some customers paid within 10 days and were granted early payment discounts of...
by hisellaw | Nov 22, 2022 | Bookkeeping
For a balanced budget, the right financial planning is important. This includes making a reasonable budget with accurate income and expense estimates. Individuals and companies can use a balanced budget to allocate their resources. Closely tracking income and expenses...
by hisellaw | Jul 21, 2022 | Bookkeeping
Below are 6 reasons high-growth SaaS companies are choosing outsourced CFO solutions. It’s becoming increasingly common to see companies turning to an outsourced CFO instead of a traditional in-house CFO. This is especially true for the dynamic, high-growth SaaS...
by hisellaw | Jul 5, 2022 | Bookkeeping
Many servers have personal rules for reporting their tips during tax season. Some use the “10% rule” in that they only claim 10% of their gratuities as income on their personal tax return. Some don’t view their tips as taxable income at all – and in some ways, you may...
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