Categorie: Bookkeeping

However, if your actual expenses are more than the federal rate, you can complete Form 2106 and deduct those excess expenses. You must report on Form 2106 your reimbursements up to the federal rate (as shown under code L in box 12 of your Form W-2) and all your expenses. If your actual expenses are […]

Forgotten outstanding checks are a common source of bank overdrafts. One way to avoid this occurrence is to maintain a balanced checkbook. This can help prevent any unnecessary NSFs if the payee decides to cash the check at a later date. What Is the Difference Between a Certified and Cashier’s Check? These checks can pose […]

The gross receipts from multiple businesses must be aggregated where they meet a “controlled group†ownership test or an affiliated service group test. A controlled group generally exists when there is greater than 50 percent common control (based upon identical ownership of five or fewer individuals, estates, or trusts) among each business. Keep this in […]

These increases peak as a bookkeeper moves from entry-level roles into the mid-career stage. Instead of graduate degrees, bookkeepers can earn professional certifications that indicate greater ability. These include the certified bookkeeper (CB) designation offered by the American Institute of Professional Bookkeepers. According to 81 percent of CBs who interviewed for a new job after […]