Startup Accounting: Everything You Need to Know

It’s common for entrepreneurs to worry about the unplanned expenses of hiring an accountant before time. But change your perspective and consider it as an investment for a lifetime. Having an accountant by your side before setting up your business for real accounting services for startups can save you from stress, expenses, and unnecessary hassles. […]

Kruze Consulting: Accounting, CFO, Tax & HR for Startups

Another issue you may run into as a startup, particularly if you operate with a remote team, is complying with tax laws across multiple jurisdictions. The more places you find employees, vendors, and clients, the more likely you will run into disparate state and local tax laws. In light of all of these benefits, it’s […]

Rules of Debits and Credits Financial Accounting

Your individual vehicle insurance may not cover your business use of your personal vehicle. This insurance can also be known as professional indemnity insurance and is suited for businesses providing a service. It protects against financial loss resulting from errors or negligence. Example of Payment for Insurance Expense An overdue invoice is also called […]

What Is GAAP in Accounting? Definition, Purpose & Principles

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Understanding your letter 4883C Internal Revenue Service

Otherwise, only that taxpayer is eligible to claim the credit on your behalf. The American Opportunity Credit can save you up to $2,500 in tax for the education expenses of each eligible student. To qualify, the student must pursue a degree at a school that is eligible to participate in the federal student aid program. […]

About Student Loan Tax Deductions and Education Credits

Earned income includes the part of any scholarship or fellowship grant that represents payment for teaching, research, or other services performed by the student that are required as a condition for receiving the scholarship or fellowship grant. If you and your child choose to apply the Pell grant to the qualified education expenses, it will […]