Category: Bookkeeping

Content Self Employed Health Insurance Premium Free Ebook: Self-Employed Taxes 101 Self-Employed Tax Calculator 2021 Qualified Business Income (or QBI) Deduction Why should you opt for a self employment tax software? Independent Contractor What are tax deductions? Again, you will want to check IRS instructions or seek professional financial help to ensure you file your […]

Content What Items are Eligible for a Write-Down? Inventory Write-Down Explained Reversal of Inventory Write Down Accounting for Inventory Write-Off Inventory write down journal entry It is different from inventory written off as inventory is written off the complete inventory cost is to be debited to profit and loss account due to non-saleable condition. Whenever […]

Content Understanding Cost of Goods Sold Basic Cost of Goods Sold Formula How to calculate the Cost Of Goods Sold using a formula? Frequently asked questions about COGS Cost Of Goods Sold (COGS) Step 3: Adjust Ending Inventory This keeps your COGS more level than the FIFO or LIFO methods. And, the IRS sets specific […]

Content Accounting & Tax T-HUB integrates your ecommerce, QuickBooks and shipping ZEN CART Inventory Management Product options and variants Axis- import and export utility Your e-commerce and internal transactions are all processed within PTW’s integrated web based business solution. We can integrate with a wide number of front end e-commerce shopping carts. It lets you […]

Content What is CapEx and OpEx What is Capital Expenditure (CapEx) Formula and Calculation of CapEx When a Business Can Opt for CapEx Taking Control of CapEx and OpEx Examples of operating costs includes repairs, salaries, supplies, and rent. For example, when rent is paid on a warehouse or office, the company using the space […]

Content Steps to File a Tax Return Tips for Filing Your Taxes Reasons to File a Tax Deadline Extension Is There a Penalty for Filing for a Tax Extension? What other new pandemic-related tax changes should I know about? An extension does not allow an extension of time to pay the tax due. Payments received […]