Table of Contents How to Respond to an IRS Notice Without Panic Why Did the IRS Send You a Notice? Is an IRS Notice the Same as an IRS Audit? How to Read an IRS Notice What Should You Do First After Receiving an IRS Letter? What If You Agree With the IRS Notice? What...
Author: KP Accounting
Table of Contents Received an IRS Audit Notice? Don’t Respond Without Reviewing the Details How Will You Know the IRS Is Auditing Your Business? What Are the Main Types of IRS Audits? What Happens During the IRS Audit Process? What Documents Can the IRS Request During a Business Audit? How Far Back Can the IRS...
Table of Contents Is Your Law Firm’s Accounting Keeping Up With Your Practice? Why Bookkeeping for Lawyers Is Different Operating Account vs. Trust Account What Is IOLTA? Financial Reports Every Law Firm Should Review Law Firm Financial KPIs Attorneys Should Track Fifteen Law Firm Accounting Mistakes Attorneys Should Avoid Best Accounting Software for Law Firms...
Table of Contents Accounting for Freelancers & Self-Employed Professionals Is Your Freelance Income Growing Faster Than Your Financial System? Are You Guessing How Much to Save for Taxes? Home Office Deduction for Freelancers Independent Contractor Accounting Cash Flow Management for Freelancers Accounting Software for Freelancers Fifteen Accounting Mistakes Freelancers Should Avoid When Should a Freelancer...
Table of Contents Is Your Retail Business Growing Faster Than Its Financial Systems? What Is Retail Accounting? Why Retail Bookkeeping Is Different Gross Sales vs. Net Sales vs. Deposits vs. Profit POS and Merchant Deposit Reconciliation Inventory Accounting for Retail Businesses Retail Shrinkage and Inventory Discrepancies Retail Sales Tax Accounting Returns, Refunds, Exchanges, Discounts, Gift...
Table of Contents What Is Ecommerce Accounting? Why Ecommerce Bookkeeping Is Different Gross Sales vs. Net Sales vs. Payouts vs. Profit Ecommerce Payout Reconciliation Explained Shopify Accounting Explained Shopify Accounting vs. Amazon Seller Accounting Inventory Accounting and Cost of Goods Sold Ecommerce Sales Tax Accounting Returns, Refunds, Chargebacks, Discounts, and Gift Cards Ecommerce Business Expenses...
Table of Contents What Is Real Estate Accounting? Why Real Estate Agents and Brokers Need Specialized Bookkeeping How Real Estate Commission Accounting Works Bookkeeping for Realtors: Daily, Weekly and Monthly Tasks Common Realtor Tax Deductions Agents May Overlook Are Your Realtor Tax Deductions Properly Documented? Realtor Mileage and Vehicle Expense Tracking LLC, S Corporation or...
Table of Contents What Is Healthcare Accounting? Why Healthcare Businesses Need Specialized Accounting Medical Bookkeeping Explained A Practical Healthcare Accounting Workflow Common Financial Challenges Medical Practices Face Fifteen Accounting Mistakes Healthcare Practices Should Avoid Healthcare Payroll Explained Financial Reports Every Medical Practice Should Review Signs a Medical Practice Is Losing Money Without Realizing It How...
Table of Contents Introduction Construction Accounting vs Traditional Accounting Common Construction Accounting Mistakes Contractors Make 15 Common Construction Accounting Mistakes Contractor vs Employee Classification Why Construction Businesses Struggle With Cash Flow 10 Cash Flow Management Strategies for Contractors Why Financial Reporting Matters in Construction Construction Accounting Software Comparison Tax Planning Checklist for Contractors Revenue Thresholds...
Table of Contents Introduction — Why Restaurant Accounting Is More Complex Than Most Owners Realize Why Restaurant Accounting Is Different What Restaurant Accounting Includes Common Financial Mistakes Restaurant Owners Make Restaurant Payroll Issues That Hurt Businesses Restaurant Bookkeeping Challenges Restaurant Accounting KPIs Owners Should Track How Poor Restaurant Accounting Impacts Growth Restaurant Accounting Best Practices...