The main difference between LIFO and FIFO is based on the assertion that the most recent inventory purchased is usually the most expensive. If that assertion is accurate, using LIFO will result in a higher cost of goods sold and less profit, which also directly affects the amount of taxes Læs mere…
Content What type of expense is rent? Deferred Rent Receivables, Net, Noncurrent Start With a Property You Own Is rent received debit or credit? A rent ledger is also a useful tool a property manager uses to help keep tenant turnover low. Real estate investors hire a property manager to Læs mere…
Content No change How to Identify an IRS Audit Letter WHAT SHOULD YOU DO IF YOU GET AN IRS AUDIT LETTER? HELP! I received an IRS audit letter IRS AUDIT LETTER What Does a Legitimate IRS Audit Letter Look Like? Your Business Is Home-Based These related examinations are extremely rare Læs mere…