And by enabling Wave’s payments feature, you can accept credit cards and bank payments for as little as 1%2 per transaction and get paid out in as fast as 1-2 business days1. Electronic invoices are created with online invoicing software or other cloud-based services, which makes it easy to automate the invoicing process. Electronic invoices [...]
The more forms and schedules you need to complete your return, the more you typically pay. We reviewed the most expensive versions this year—those that provide tax prep tools for the self-employed and advanced topics like depreciation, rental income, and capital gains. The IRS requires that all tax preparers or firms filing 11 or more [...]
With Cash Flow Frog, you can create cash flow forecasts automatically online quickly and easily. The platform pulls data from your accounting software to ensure that only the most accurate and up to date information is used. Having a rolling cash flow forecast is a great way to real estate cash flow stay on top [...]
On the other hand, assets sold in cash are recorded in the cash book and the sales of assets on credit are recorded in the proper journal. At the end of the month, we total the Cash column in the cash receipts journal and debit the Cash account in the general ledger for the total. [...]
You must depreciate MACRS property acquired by a corporation or partnership in certain nontaxable transfers over the property's remaining recovery period in the transferor's hands, as if the transfer had not occurred. You must continue to use the same depreciation method and convention as the transferor. You can depreciate the part of the property's basis [...]