Accounting

How do you do an owner’s draw? The most common way to take an owner’s draw is by writing a check that transfers cash from your business account to your personal account. An owner’s draw can also be a non-cash asset, such as a car or computer. You don’t withhold payroll taxes from an owner’s … Read more

Do I have to pay myself a salary S corp? As an S corp owner, you only need to pay yourself as an employee if you are actively involved in running the business. If you’re an employee of your business, you’ll receive a fixed W-2 salary and have your income tax, Medicare tax, and Social … Read more

Is accounts payable a stressful job? Working in accounts payable can be tedious and stressful, especially when period closings and audits roll around. From redundant data entry and stuffing envelopes, to bogged down or outdated software systems, boosting efficiency in your AP process can take the strain off your accounting team’s shoulders. Read more on … Read more

Can a CPA work for a non CPA firm? The AICPA has no similar restrictions on the formation of a partnership for the practice of public accounting with non-CPAs. A CPA may now have a non-CPA partner and still enjoy the benefits of membership. Read more on archives.cpajournal.com Yes, a Certified Public Accountant (CPA) can … Read more

How do you calculate contributed equity? Contributed Capital Formula. It is calculated by subtracting retained earnings from total equity. read more is the par value of issued shares. The common stock of the company appears on its balance sheet below as common stock and preferred stock. Read more on www.wallstreetmojo.com The total sum of money … Read more

How do you record capital expenditures? Accounting for a Capital Expenditure. A capital expenditure is recorded as an asset, rather than charging it immediately to expense. It is classified as a fixed asset, which is then charged to expense over the useful life of the asset, using depreciation. Read more on www.accountingtools.com Capital expenditures (CAPEX) … Read more

How much money does a café spend on food? As we discussed in the intro, food spending between 20 and 25 percent is the average for smaller establishments, including fast-food restaurants. Larger table-service establishments might have their food and labor spending percentage around 30 percent on the low side and 40 percent on the high … Read more

Can a bookkeeper be called an accountant? Bookkeeping is a direct record of all purchases and sales that your business conducts, while accounting is a subjective look at what that data means for your business. An accountant can be considered a bookkeeper, but a bookkeeper cannot be an accountant without proper certification. Read more on … Read more

How long does it take for a wholesaler to get paid? A wholesale real estate contract is a short-term investment strategy where the wholesaler hopes to make their money within 30 days. Though wholesale real estate laws vary by state, the process always involves the wholesaler acting as the go-between between a home’s seller and … Read more

How profitable is a cheese shop? How much profit can a cheese shop make? The average annual sales for a shop carrying 125-150 cheeses is between $750,000 and $1.6 million. Subtract annual expenses from total sales and most have realized a significant profit. Read more on howtostartanllc.com People have long enjoyed and consumed cheese because … Read more