Category: Bookkeeping

Corporations can use a variety of different depreciation methods such as double declining balance and sum-of-years-digits to lower taxes in the early years. Let’s look at the example of an owner of a fleet of trucks whose equipment depreciated over the tax year. Depreciation is a deductible expense, depreciation tax shield formula and a portion…

As your small business scales, it is crucial to explore new markets and customer segments to expand your reach. Conduct market research to identify untapped opportunities, analyze customer behavior, and tailor your marketing strategies accordingly. Assess the scalability of your products or services in different https://www.bookstime.com/ markets and adapt your offerings as needed. By diversifying…

Auditing helps to identify discrepancies in financial documents and compare financial transactions against bank statements, safeguarding against potential fraud. Floor plan financing is a specialized type of loan used by car dealerships to finance their inventory. This arrangement allows dealerships to purchase vehicles from manufacturers or auctions without having to pay the full amount upfront.…