Bookkeeping

Is Utility Expense an Asset or a Liability?

With seamless integration into existing financial tools and AI-powered insights, small business owners can make data-driven decisions and maximize profitability. As technology advances, online bookkeeping will continue to play a vital role in ensuring efficient, secure, and tax-compliant financial management. Utility expenses refer to the cost of services required to run a home or business, such as electricity, gas, water,…

What is a tax write off

For this tax year, you can deduct $5 per square foot (though you can’t exceed 300 square feet — which means the most you can deduct is $1,500). Some people may be able to write off the personal property taxes that were charged and paid during the relevant tax year. The IRS recommends itemizing deductions if the itemized total will…

Dividends in Accounting

Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Dividend journal entry First of all, this dividend policy allows shareholders to benefit from increasing profits of a company,…

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