What Tax Records Should You Keep and How Long Should You Keep Them? on Shine Tax Records to Keep and How Long to Keep Them By: Ann-Marie Murphy, Quizzle.com April is fast-approaching and with it, tax time. While tax preparation seems to get a little bit easier each year with the prevalence of online tax prep software, there's still one question that leaves many Americans scratching their heads: What records should I hang onto for tax purposes and how long should I keep them? There are a few basic records that everyone should keep, according to the IRS, including documents that provide evidence of your income and expenses. Basic Records to Keep Now that you know what to keep, here's the low-down on how long to keep them (also known as the "period of limitations"): How Long to Keep Records* *Unless otherwise noted, the number of years you should keep records refers to the time period beginning after you filed your return. For more details about which records you should keep for tax purposes, the IRS has put together a handy publication on Recordkeeping for Individuals.
Nowa Alchemia American Institute of Professional Bookkeepers (AIPB), the bookkeeping profession's association recognizing bookkeeping as a profession and bookkeepers as professionals, and certifying those bookkeepers who meet high, national standards. ChemSpider | Search and share chemistry Glossary Definitions accounting - activities that provide information, usually quantitative and often express in monetary units, for decision making, planning, controlling resources and operations, evaluating performance, and financial reporting to regulatory authorities and the membership. It is a system of recording and conveying information about an organization in financial terms. accounting categories - the classifying of types of expenditures or receipts for reporting purposes. accrual-basis accounting - a method of accounting in which revenue is recorded when it is earned. Automated Clearing House (ACH) - the ACH acts as a central facility for processing electronic payments and receipts. active status - the current state of a member’s ledger card, which classifies this member as being in good standing. adjustment - entries made at the end of an accounting period to record previously unrecognized changes in assets, liabilities, revenue, and expenses. asset - an item of value owned by the union.
Citrination Ethics Resource Center | Ethics Resource Center Ogniwa Paliwowe - Technologia Przyszłości Double-entry Accounting System: Online Accounting Tutorial & Questions | Simplestudies.com T-account, debit, credit, and account balance; double entry bookkeeping system; general journals, ledgers, posting process; closing entries. 1. Introduction to double-entry accounting system This tutorial is devoted to the technique used by most accountants in the world. T account is an individual accounting record that shows information about increases and decreases in one balance sheet or income statement account. On the top of the horizontal bar there is the account title. The left side of the T account is called a debit, and the right side is called a credit. Debit is the left side of a T account. Credit is the right side of a T account. Often these two terms are abbreviated as Dr and Cr. Account balance is the difference between the debit side and the credit side of a T account. Now we can define the double-entry system: Double-entry recording system provides for the equality of total debits and total credits. 2. and 3. Let us see how debits and credits affect accounts. Not a member?
mistakes-of-startup-entrepreneurs: Personal Finance News from Yahoo! Finance When it comes to starting a successful business, there's no surefire playbook that contains the winning game plan. On the other hand, there are about as many mistakes to be made as there are entrepreneurs to make them. Recently, after a work-out at the gym with my trainer -- an attractive young woman who's also a dancer/actor -- she told me about a web series that she's producing and starring in together with a few friends. While the series has gained a large following online, she and her friends have not yet incorporated their venture, drafted an operating agreement, trademarked the show's name or done any of the other things that businesses typically do to protect their intellectual property and divvy up the owners' share of the company. [Click here to check current credit card offers, including rates and terms.] Here, in my experience, are the top 10 mistakes that entrepreneurs make when starting a company: 1. 2. 3. 4. 5. [Commonly Held Millionaire Myths] 6. 7. 8. 9. 10. Follow Yahoo!