Bookkeeping

Without the matching principle, revenues and expenses could be recognized in different periods, leading to overstated or understated financial results. The matching principle states that expenses should be recognized and recorded when those expenses can be matched with the revenues those expenses helped to generate. In this sense, the matching […]

This tax is progressive, which means the tax rate you pay — the percentage of each additional dollar that goes to the government — increases as your income increases. For individuals, the income tax rates on ordinary income (as distinguished from capital gains) start at 10% and increase up to […]

Bonus depreciation allows businesses to depreciate a larger portion of an asset’s cost in the first year. The rules for bonus depreciation have changed over the years, especially with the passage of the Tax Cuts and Jobs Act (TCJA) of 2017. A key difference is that you’d record depreciation expense […]

It ultimately speeds up several of your business processes and even grants you some free time. Furthermore, most modern B2B payment automation solutions use cloud storage. It offers one of the most secure ways to transfer funds for your B2B transactions. Although safe, wire transfers often involve numerous steps for […]

Not every customer is financially literate or may be looking for personalized suggestions, help, or advice. It’s able to analyze vast amounts of financial data and news in real-time and provide insights that traders can use to optimize their trading strategies. Financial firms are using AI in a variety of […]