Category Archives: Bookkeeping

Accounting for Real Estate Business & Fund Accounting

Since you could be dealing with a range of expenses, such as repairs, legal fees, and property taxes, costs can vary widely and change quickly. According to the Bureau of Labor Statistics, there are over 467,000 real estate and property managers in the https://glowtechy.com/why-professional-real-estate-bookkeeping-is-essential-for-your-businesses/ U.S.. Plus, the industry is trending upward, with tens of thousands…

What is Difference Between Gross Profit and Net Profit?

Since post-tax deductions reduce net pay, rather than gross pay, they don’t lower the individual’s overall tax burden. Common examples include Roth IRA retirement plans, disability insurance, union dues, donations to charity and wage garnishments. Employees can decline to participate in all post-tax deductions but wage garnishments. It is the total value of your earnings…

Construction Invoices: Best Practices & Billing Procedures

Proper accounting for a construction company’s success requires the right tools, expertise and commitment to industry best practices. Construction payroll systems must be able to handle these complex payroll scenarios, and many contractors use specialized payroll software to manage their payroll needs. As a type of progress billing, AIA billing invoices the customer based on…

Tax Tips for Independent Contractors: A Deep Dive into Form 1099 MISC

If you’re unsure about your tax obligations, consult with a tax professional. Some common categories include office expenses, travel expenses, and equipment expenses. This will make it easier for you to identify which expenses can be deducted and which ones cannot. However, expenses related to your work, such as office supplies or travel expenses, can…