4 changes on 2020 tax deduction
The tax season is here again! This year, the IRS announced 4 recent changes in tax laws that can save you a lot. 1. Individual Income Tax...
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Jul 27, 20202 min read
Latest Changes on Paycheck Protections Program (PPP)
On Saturday, July 4, 2020, President Donald Trump signed a new law extending the deadlines for applying for the Paycheck Protection...
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Jul 22, 20203 min read
Balance Sheet vs Profit & Loss Account
TABLE CONTENT Balance Sheet Profit & Loss Account Key Differences between Balance Sheet and Profit & Loss Account Conclusion The two...
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Jul 19, 20205 min read
What is Progress invoicing?
TABLE OF CONTENT What is Progress invoicing? Purpose of Progress Invoicing - Empowering Construction business Benefits of Progress...
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Jul 14, 20201 min read
2020 Health Savings Account Limits
A Health Savings Account (HSA) is a tax-benefit program for people covered by high-deductible insurance plans (HDHPs) that are used for...
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Jul 12, 20204 min read
The Art of Construction Estimating and Its Insights
An estimate is a document that the contractor gives to a customer, showing how much they would like to charge for services they are going...
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Jul 5, 20203 min read
Best Practices for Construction Accounting
Accounting and financial management is a challenging task in all industries. TABLE OF CONTENT Cash Basic Job Costing Percentage of...
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Jul 1, 20203 min read
How to process Accounts Receivable
On the last article, we talked about the definition of Account Receivable and its importance to business. Subsequently, Accounts...
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Jun 30, 20202 min read
What is Accounts Receivable?
Most businesses sell to their customer on credit. That implies, they sell and deliver goods or services quickly, send an invoice, then...
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Jun 28, 20203 min read
Negative Liability on Balance Sheet
A Balance Sheet gives you a financial snapshot of the company as of the specific date. It calculates how much the company worth (its...
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Jun 23, 20202 min read
Why is bookkeeping essential for business?
Have you ever wondered why you should find a professional bookkeeper? As US Small Business Administration states, “half of all new small...
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Jun 23, 20202 min read
Three-Way Reconciliation Of Your Trust Account
At the end of every month, it is time for you to reconcile your trust bank account. This lets you confirm that your transaction records...
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