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5 Ways to Calculate Sales Tax

Imported and exported goods can be taxed in countries that impose a VAT. It is the most popular type of sales tax in more than 160 countries outside the United States. VAT is levied as an indirect tax anytime value is…

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How to Calculate Sales Tax

Most taxpayers prefer to deduct income tax because it usually yields a larger figure. However, taxpayers who make large purchases during the year may find it more advantageous to deduct sales tax instead of income tax if the total sales tax…

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How do I calculate the amount of sales tax that is included in total receipts?

The indirect feature of the tax means that the consumer bears the burden of the tax, however it’s collected and transferred to authorities by the seller. The most popular type of sales tax is the retail sales tax which is present…

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How to Prepare a Cash Flow Statement

Negative cash flow should not automatically raise a red flag without further analysis. Poor cash flow is sometimes the result of a company’s decision to expand its business at a certain point in time, which would be a good thing for…

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Definition Formula

If you place more than one property in service in a year, you can select the properties for which all or a part of the costs will be carried forward. For this purpose, treat section 179 costs allocated from a partnership…

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Best Accounting Software For Small Business 2024

Users particularly like the customization of reports and how robust the GL is, offering details on every aspect of a transaction. You’ll be able to streamline payroll administration making sure everyone is paid timely and correctly. Construction Accounting understands that not…

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Best Accounting Software For Small Business 2024

Users particularly like the customization of reports and how robust the GL is, offering details on every aspect of a transaction. You’ll be able to streamline payroll administration making sure everyone is paid timely and correctly. Construction Accounting understands that not…

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A Guide to the Matching Principle

Generally accepted accounting principles, or GAAP, are standards that encompass the details, complexities, and legalities of business and corporate accounting. The Financial Accounting Standards Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practices….

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Back Taxes Explained: What They Are & How To File Intuit TurboTax Blog

The IRS charges a fee for the installment agreement unless you think you can pay your balance off within 180 days (six months). This is considered a short-term payment plan and is fee-free, but you may still have to pay interest…

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6 2 Cash and Cash Equivalents Intermediate Financial Accounting 1

It’s important to note that these investments are only considered equivalents if they are readily available and are not restricted by some agreement. For instance, if a company has a loan that requires it to maintain a minimum level of their…

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