by cdaaccounting | Jun 2, 2022 | Business
Gross receipts are the total amounts your Coeur d’Alene business receives from all sources during its Tax Year, without subtracting Cost of Goods Sold or deductible expenses. If you operate your Idaho business as a Sole Proprietorship, or a single-member LLC,...
by cdaaccounting | Jun 2, 2022 | Business
An ordinary expense is one that is common in your trade or Coeur d’Alene business. A necessary expense is one that is useful and appropriate for your trade or Coeur d’Alene business. The two biggest reasons why you might lose a business expense deduction...
by cdaaccounting | Jun 2, 2022 | Business
A book containing a page or more for every account in the Coeur d’Alene business. After a transaction is recorded in the general journal, the components are then transferred or posted to the individual accounts in the general ledger. Thus, at any time someone...
by cdaaccounting | Jun 1, 2022 | Business
The process of spreading the historical cost of a long-term asset over its useful life. In order to determine this amount, management must make an assumption of the life of the long-term assets. The historical cost is then spread evenly over this life expectancy. When...
by cdaaccounting | Jun 1, 2022 | Business
Starting a company in Coeur d’Alene is hard enough, but now you must track all of your sales, expenses, inventory, payrolls and taxes. If you use and are comfortable with spreadsheets, spreadsheets software can easily be set up as a basic set of financial...
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