A contract should specify number of days not “month” but if it is indicated in terms of month it would commonly be considered the day of the month from th...

The IRS Says You Have Until July 15 To Make 2019 IRA Or HSA Contributions. The Internal Revenue Service today has clarified that the deadline for making I...

The corporation tax return normally covers a 12-month corporation tax accounting period that matches your company’s 12-month financial year. Each company ...

Unlike an interest expense incurred for any other purpose, capitalized interest is not expensed immediately on the income statement of a company’s financi...

Motor vehicle expenses, other than business mileage, can only be claimed if the vehicle is a company vehicle (in the company’s name) and is not owned pers...

You can follow these steps to apply for a private-sector job: Determine your ideal job. Research job titles. Examine the current salary trends. Identify y...

Self-employment taxes As a self-employed individual, you must pay Social Security and Medicare taxes. However, since your 1099-NEC income is not subject t...

The cash basis of accounting recognizes revenues when cash is received, and expenses when they are paid. This method does not recognize accounts receivabl...

26 weeks You can usually get Maternity Allowance if you’ve been employed or self-employed for 26 weeks in the 66 weeks before your due date. Can I work wh...

Examples of S Corp tax savings The more money you pay yourself as a distribution, the more Social Security and Medicare tax you’ll save when you run an S ...