Posts Tagged Information

Reads From Last Week

I am back on the racks over at Alltop. Thank you everyone for helping get there.

What is it?

Alltop is sort of a “digital magazine rack of the Internet. To be clear, Alltop sites are starting points” the site provides categorized selections of links to blogs and other web resources that make it easy to scan a lot of information on a particular subject. For example the Taxes page lists many tax blogs with links to the most recent posts. Alltop is a valuable resource for anyone wanting to research, or just keep up on, well, stuff. If you have ever been to a real magazine rack you know.

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Tags: accounting, Alltop, Alltop.com, bloggers, economic recovery, Economic Recovery Advisory Board, favorite news, fraud lawsuit, Information, Paul Volcker, Reads from Last Week, Roni Deutch, tax lady, Taxation

Choosing the Right Representative: A Re-post

Rob Teuber is an attorney with the law firm Weiss Berzowski Brady LLP and author of the tax law blog www.federaltaxlawforum.com.

I deside to repost this as it would seem the information has been forgotten.

 

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Tags: accountant, accountants, Business, client trust, federal tax problems, Information, Representative, reputation, Rob Teuber, tax audit, Tax resistance, Taxation in the United States

Reads From Last Week

Sales tax collection on online purchases: legislation to ease it, lawsuit to stop it.

PREPAYING INDEBTEDNESS AT A DISCOUNT DOES NOT ALWAYS GIVE RISE TO CANCELLATION OF INDEBTEDNESS INCOME – the reduction in the amount due will often be characterized as cancellation of indebtedness income, which is subject to income tax.

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Tags: free checking accounts, Information, Reads from Last Week, small business, Taxation in the United States

The Income Statement (Profit & Loss) Part 1

The Income Statement is one of the three main financial statements. (The other two being the Balance Sheet and Cash Flow Statement.) The important thing to remember about an income statement is that it represents a period of time. As opposed to the balance sheet, which represents a single moment in time.

The income statement is sometimes referred to as the profit and loss statement (P&L), statement of operations, or statement of income. In QuickBooks it is the P & L.

This financial statement indicates changes in the financial position of the business for a particular period of time, i.e. month, quarter or year. The portion of the income statement that deals with operating items is interesting to investors and analysts alike because this section discloses information about revenues and expenses that are a direct result of the regular business operations. The non-operating items section discloses revenue and expense information about activities that are not tied directly to a company’s regular operations. For example, if the sport equipment company sold a factory and some old plant equipment, then this information would be in the non-operating items section.

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Tags: accountant, accountants, Business, business operations, Cash flow, finance, financial position, Financial statements, Gross profit, Income statement, Information, P&L, profit and loss, profit and loss statement, QuickBooks

Reads From Last Week

Last week I wrote two post that weren’t exactly about taxes. In them I mention taxes, but Each one isn’t “about”  taxes. In my post The Company Balance Sheet I talk about what is in a balance sheet. Thursday I posted Mistakes made in QuickBooks. In this I talk about things I get tired of seeing when I go out and help clients with their QuickBooks bookkeeping. Simple mistakes, that can ultimately, can and will affect the survival of a small business. If you’re a business owner all prejudice aside I say you should read them both.

Today’s taxes aren’t too bad –Kay Bell writes, “when compared to where tax rates have been over the years, we’re in pretty good shape” I agree. She also continues her mid year tax tips with

And everyone seems to be writing about it but, here it is in easy to understand words Homebuyer tax credit extended; closing date deadline is now Sept. 30. Also from Kay:

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Tags: Information, Reads from Last Week, Tax preparer, tax preparers, Tax professional

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