Adam Hill, author at Online Accounting

Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net

How to calculate interest expense: How to calculate interest expense

Jul 4, 2023 Bookkeeping by Adam Hill

Compound interest is calculated based on the principal, the interest rate, the length of time, and the number of times per year that interest is compounded. Interest expense usually appears below the EBIT (Earnings Before Interest and Taxes) as a separate line on the income statement. However, some businesses choose to list this expense in
Read More

How to calculate fifo and lifo: Lifo and Fifo Calculator to calculate ending Inventory

Jul 4, 2023 Bookkeeping by Adam Hill

You have to remember that if the paid-price for the inventory fluctuates during the specific time period you are calculating Cost of Goods Sold, then that should be taken into account too. Furthermore, you can use an online fifo lifo calculator that uses both fifo and lifo valuations to provides you the fifo lifo inventory
Read More

How to calculate estimated taxes: Estimated Quarterly Tax Payments Calculator Bench Accounting

Jul 4, 2023 Bookkeeping by Adam Hill

Because Stephanie earned more than $400 this year, she will also have to pay self-employment tax. To calculate self-employment tax, she first has to multiply her estimated total income ($90,000) by 92.35%—this is effectively her self-employment taxable income. She then multiplies this number by 15.3%, the self-employment tax rate. It’s the combination of Social Security
Read More

How much do small businesses pay in taxes: Pay taxes U S. Small Business Administration

Jul 3, 2023 Bookkeeping by Adam Hill

It also introduced a 20% deduction for qualified business income (QBI) from pass-through entities. However, some of those changes will phase out in the next few years. When you think about business taxes, you might picture a corporation. That’s because sole proprietorships, partnerships and limited liability companies (LLCs) pay taxes at the owner’s personal rate
Read More

Free receipt forms: 100 Free Receipt Templates Print & Email Receipts as PDF

Jul 3, 2023 Bookkeeping by Adam Hill

Charities and nonprofits can generate donation receipts for donors, which are easily customized to include relevant information for tax returns. Field service professionals — like taxi drivers, mobile mechanics, delivery drivers, etc. — can generate stunning receipts on any device, which are then instantly emailed to customers with our autoresponder feature. Use this template to
Read More