While realized gains and recognized gains may sound similar, they have distinct meanings. The main difference between realized and recognized gain significantly impacts your tax bill: Realized gain is the tangible financial benefit you receive when selling an asset for more than its adjusted basis. It reflects your overall profit regardless of accounting or tax…
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TurboTax vs H&R Block: Which Is Best
We’ve compared TurboTax vs H&R Block in terms of features, customer service, ease of use, and other offerings to help you determine the best fit for your business. However, the choice between the two ultimately depends on individual needs, the complexity of the tax situation, preferred support options, and budget considerations. TurboTax is a widely…
Chase vs Wells Fargo Business Checking: Which Is Better?
Chase and Wells Fargo business checking accounts offer great options for online and in-person banking services. Chase Business Complete Banking provides unlimited digital transactions and in-house merchant services at a waivable $15 monthly fee. Meanwhile, Wells Fargo offers Initiate Business Checking with a lower and easier-to-waive $10 monthly fee but caps fee-free monthly transactions at…
Buying vs Leasing Commercial Real Estate
If you’re looking to acquire commercial real estate (CRE), buying and leasing are two options you can consider: Buying real estate typically requires more cash upfront but it allows you to build equity, has more flexibility in making modifications to the property, and has fewer long-term variable costs. Leasing real estate requires less upfront money,…
What Is a Realized Gain vs Unrealized Gain?
Realized and unrealized gains are both important concepts in investing, but they have distinct meanings and implications for accounting and taxes. The key difference between realized gain vs unrealized gain is whether you have sold the asset that has increased in value: Realized gain is the sales price of an asset in excess of the…
Novo vs Found Business Checking: Which Is Best?
Novo and Found offer minimal fees, built-in bookkeeping, and unlimited free invoicing. If you value cost-saving features and quick financing access, Novo provides ATM fee refunds, discounts on popular business software, and a seamless funding solution. Meanwhile, Found is best for blended banking and accounting with its automated tax savings, receipt capture, and built-in bookkeeping…
Business Credit Card vs Debit Card
A business credit card offers a line of credit to finance your business’s purchase transactions while a business debit card is either prefunded directly or linked to a bank account. Both are important tools that provide convenience for business owners when making purchases in-store and online. They may look similar, but they don’t work the…
Recourse vs Nonrecourse Debt and Why It Matters for Taxes
Recourse and nonrecourse liabilities differ in terms of responsibility for the loss if the borrower defaults on the loan. With recourse debt, the lender can sue the borrower to be made whole for the loss. Any debt that is not recourse is nonrecourse. This difference between recourse vs nonrecourse debt matters for taxes because losses…