Category Archives: Bookkeeping

TurboTax® 2022 Prior Year Tax Prep File Past Years’ Taxes

We use information about your tax situation to match you with an expert who has experience with taxes like yours. During the process, they’ll also learn more about your unique situation so they can make sure your taxes are 100% correct before filing. Prior-year returns must be paper-filed, as e-filing is no longer available for […]

Difference Between Fixed Cost and Variable Cost: Know Differences

So, this is all for the difference between Fixed Cost and Variable Cost. To see our product designed specifically for your country, please visit the United States site. Salaries include only those paid on a salaried basis and do not include hourly employees whose hours may change due to production demand. A good way of […]

Owner Withdrawal: Definition, Debit or Credit, Type of Account, Tax Treatment, Journal Entry, Calculation

The drawing account is then reopened and used again the following year for tracking distributions. You would think that because distributions are paid out, they would be considered a form of a cash out listed on your profit and loss statement. See, these distributions don’t affect how much profit your business makes or how much […]