Recent content by pndaccountants

  1. pndaccountants

    USA What are the general cost range of a financial tax audit for small business?

    Most small-business owners would say one thing they would meticulously avoid if given the chance is a tax audit. But rather than living in fear of the unknown, let’s take a look at some of the most common triggers for a small-business tax audit.
  2. pndaccountants

    USA Long term capital gain tax

    If you sell a capital asset, such as real estate or shares, you usually make a capital gain or capital loss. This is the difference between what it cost you to acquire the asset and what you receive when you dispose of it.
  3. pndaccountants

    USA Book Keeping software

    Use Xero to manage invoicing, bank reconciliation, bookkeeping & more
  4. pndaccountants

    How to recognize revenue when amount is not fixed?

    If it is not possible to reliably measure the outcome of a transaction involving the provision of services (perhaps because the transaction is in its very early stages) then revenue should be recognised only to the extent of costs incurred by the seller
  5. pndaccountants

    UK Accounting Software suggestions

    The accounting software trade has always been about similar software with the needs of the accountant instead of matching it with the needs of client, and that needs to change..
  6. pndaccountants

    Mac Accounting Software

    Mac Accounting Software is such an incredibly helpful, especially for payroll. It’s so powerful being able to have real-time numbers, knowing exactly where you stand on a week-to week basis
  7. pndaccountants

    USA US bank accounts - non resident alien

    In Australia... Yes, most non-residents are able to open a bank account with the Commonwealth Bank
  8. pndaccountants

    USA CPA taking sides for Limited Partnership

    To reduce the risk of your clients being selected for scrutiny by the Australian Taxation Office (ATO) or any other government agencies involves a number of steps including using engagement letters and implementing an appropriate risk management framework.
  9. pndaccountants

    UK In which country should the firm pay taxes?

    The recent debate about tax avoidance by multinational firms like Amazon or Starbucks has brought corporate taxation to the top of the international policy agenda.
  10. pndaccountants

    USA July 2017 Federal tax deadlines for the USA

    ATO will start full processing of 2016–17 tax returns on 7 July 2017 and expect to start paying refunds from 18 July 2017.
  11. pndaccountants

    USA Accrual for future liability

    Accrual accounting is simply saying that you have accrued an expense (or revenue), whether you expend (or receive) the cash or not. And, so, YES, depreciation is an accrued expense. You accrue it over the course of time you will depreciate the thing...
  12. pndaccountants

    USA Tax withholding on payments to non-resident foreigners for outsourced professional services

    You may also have to withhold tax if any of the above payment types have been dealt with (for example, reinvested or capitalized) on behalf of the non-resident.
  13. pndaccountants

    India Employee expenses claim from companies.

    Expense claim is a collection of receipts from personal spending that needs to be reimbursed by the business. Each user in your organisation can add receipts recording their expenses, then submit an expense claim to be reviewed and approved by a user with the required user role.
  14. pndaccountants

    USA 1099-MISC Income VS General Income

    I listed all my income as 'general income'. Do I subtract the income that was reported on 1099-Misc from general income total? It doesn't make sense to me to report that income under both sections.
  15. pndaccountants

    USA Severance Packages - least amount of tax

    Depending on your employment conditions, for example amounts your employer is required to pay under the industrial agreement or employment contract, a genuine redundancy payment may include: payment in lieu of notice severance payment of a number of weeks' pay for each year of service...