All Accounting Articles - Page 16

Straight Line Depreciation: How to Calculate & Formula

By Crystalynn Shelton on March 10, 2017 | Accounting, How To | Comments (0)

Straight line depreciation is the simplest way to calculate an asset’s loss of value (or depreciation) over time. It is used for bookkeeping purposes to spread the cost of an asset evenly over multiple years. It can also be used to calculate income tax deductions, but only for some assets, like nonresidential property, patents and…

Sales & Use Tax Guide for Small Businesses

By Crystalynn Shelton on March 2, 2017 | Accounting | Comments (2)

Sales tax is a tax you charge to customers when they purchase products or services from you. As a business owner or seller, you are responsible for calculating, collecting, reporting, and remitting sales tax to the appropriate state and local tax authorities. Use tax is a tax that you have to pay if you purchased…

Double Declining Balance Depreciation Method & Formula

By Crystalynn Shelton on March 1, 2017 | Accounting, Business Accounting, What is | Comments (0)

Double declining balance depreciation is a method of depreciation that allows you to expense more depreciation in the early years of the life of an asset and less in later years. This can be beneficial for assets like cars and computers which lose a greater portion of their value in the early years after you…