The main difference between fixed and variable overhead isthat variable overhead depends on the volume of production while fixed overheadis always the same. For example, when a new work shift is added, variableoverhead increases...
Specifically, while warehouses and storerooms hold your items physically, you should also have a digital system that files your inventory. Obsolete inventory, also called dead or excess inventory, refers to inventory a company still...
Ordinarily, you will file only one Form 1099-OID for the depositor or holder of a particular obligation for the calendar year. If a person holds more than one discount obligation, issue a separate Form...
Content Review the inventory How To Prevent Common Accounting Errors During Year-End Close Prepare Financial Statements Check Your Fixed Assets and Petty Cash Fund Intercompany accounts steps to complete the month-end close process After...
Variance analysis can help a business narrow in on areas of operations that aren’t performing as they should be. Once a business identifies an marginal cost formula and calculation, they can further examine department...
Content How to Handle an IRS Audit of Your Tax Return How to survive audit if you have cheated on your return being audited Related IRS notices Top Ten Tips for Surviving an Audit...
Content Legal and professional fees Business Expenses, Purchases and Operating Costs Personal itemized deductions What Does Tax Deductible Mean and How Do Deductions Work? Legal and Accounting Fees Homeowner Deductions For example, if you’re...
Content Streamlining the approval process Selecting a Vendor to outsource Invoice Data Entry Organisational capability and support for Invoices data entry solutions Invoice and Statement Printing and Mailing Services Benefits Of Contract Out Your...
Content Is a tax-exempt employer eligible for the tax credit? (Updated January 28, More answers: The Small Business Health Care Tax Credit What are tax exclusions? End the Exemption for Employer-Provided Health Care Tax Expenditures...
Content Insurance Should I Take the Standard Deduction? The Complete Guide to Sending Quotes and Estimates: Simplify Your Small Business Process with Free Quote Templates If you are an individual and your attempt to...
