As our society takes a closer, introspective look at how our actions match assertions of “equality for all,” many of us in the U.S. accounting profession confront the sobering reality that we have not made as much progress as needed in attracting, retaining and promoting diverse talent to roles where
Bad debt is the amount that a business or a company is unable to recover from the debtor in case the borrower has gone bankrupt or is unable to pay the debt for some reasons. Debt issues can severely affect the profit and loss reports while reconciling the accounts in
QuickBooks Multi-user mode is a feature inbuilt into QuickBooks and has aided a lot of businesses on working with the application. As the name suggests, multiple users can work on the same company file together without any confusion. To access the feature, each user must have the QuickBooks License on
There has been some “deterioration” of IRC Section 1031 in recent times. We refer to the 2017 Tax Cuts and Jobs Act (TCJA) elimination of like-kind exchange treatment for exchanges of personal property. The basic rationale of IRC Section 1031 in its current form is the absence of recognized gain,
Whether you work from home or in an office, you spend hours of your week communicating and collaborating with your coworkers. So it’s practically inevitable that tensions, conflicts and disagreements with coworkers will crop up from time to time. Whether conflicts stem from miscommunication, clashing priorities or personality differences, it’s important
Part one discussed seven graduated tax brackets for Form 1040s for calendar year 2021 that will be filed in 2022. It explained the first five brackets—10, 12, 22, 24 and 32 percent. Part two discusses the top two IRS tax brackets—35 and 37 percent. First, though, let’s deconstruct “taxable income”
Botkeeper’s move focuses around connecting their partner accountants with businesses in need of bookkeeping services and accounting support. With this shift in focus, the company can now funnel those businesses that need bookkeeping services straight to the accountant or CPA firms in the Botkeeper ecosystem. Botkeeper’s strategy of growing its
One of the most common error user usually faces is QuickBooks error 6177 0. Whenever you create a new company file in QuickBooks, it gets saved in the company file folder whereas the path of the company file gets saved in QuickBooks. When you try to access the company file,
Black History Month is important to recognize in February, but I also try to reflect on black history continuously throughout the year. I’m constantly celebrating and remembering the African Americans who paved the way to allow black entrepreneurs like me to dream of owning my own business. The importance of
The IRS has announced it has fulfilled its responsibilities regarding the first two rounds of Economic Impact Payments (EIPs) for eligible recipients (IR-2021-38, 2/16/21). Now it’s time for taxpayers who received stimulus checks to finish the job as the IRS turns its eye toward tax-filing season. Within a matter of