by cdaaccounting | Jun 1, 2022 | Business
One of the rules that the securities exchange commission SEC has issued is that the financial statements of public companies must be examined by an independent public accountant through the process of an audit. This rule means that a Coeur d’Alene accountant,...
by cdaaccounting | Jun 1, 2022 | Business
Tax law refers to your individual net income as “adjusted gross income (AGI).” If you operate your Coeur d’Alene business as an S corporation, your AGI includes your net gain or loss from your S corporation. If you operate your Coeur d’Alene business as a...
by cdaaccounting | Jun 1, 2022 | Business
No matter how frequently or infrequently you do your Coeur d’Alene business is posting, run a monthly total at month end, even though it may not be a full five or seven days since your last regular posting. Don’t let a posting period get skipped by a month. You...
by cdaaccounting | Jun 1, 2022 | Business
Instead of setting up a credit ledger for your Coeur d’Alene business, keep copies of your credit sales invoice s in an “unpaid” file. When you receive payment, pull the invoice from the unpaid fire, record the income, a file the invoice with your other paid...
by cdaaccounting | Jun 1, 2022 | Business
For recordkeeping and taxes, you must distinguish between “your Coeur d’Alene business” income and “non-business” income. Business income is what you earn from selling a product or providing a service. Only your business income is included on your income...
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