Archive for Taxes Tools
Equity Method Accounting Makes a Big Difference
Posted by: | CommentsEquity method accounting is used when an investing company owns stocks of another affiliate company. There are several different ways of accounting for this ownership, but this method is perhaps the most popular.
Equity method accounting factors in the increase or decease in profits of the invested company. These differences are usually unrealized and not actually obtained by the investing company. The increase or decease is, of course, calculated on the percentage of stocks owned and does not account for dividends paid. For example, if an investor owns 100 shares of an affiliate’s stock. And if that stock increases 10%, only those 100 shares will reflect the 10% increase. The investing company will then record that increase as profit on their ledger.
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How to Calculate and Deduct the New VAT Rates
Posted by: | CommentsThe VAT rate in the UK has been reduced, temporarily, in an attempt by the UK government to stimulate the economy and get people spending. Whether or not this will work remains to be seen. However, implementing the change can be tricky – invoices have to be amended, spreadsheets and databases need to be changed, and things can get complicated!
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Tax Deductible Business Expenses Even Your Accountant Doesn’t Know About
Posted by: | CommentsThe old saying goes that death and taxes are the only two certainties in life. Maybe so and maybe not. I’m discovering a third certainty in life: most Americans are paying way too much in taxes to Uncle Sam. There are hundreds of tax deductible business expenses for small and home-based businesses that Americans currently overlook.
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