Recent content by Olivia

Here’s a simple way to start bookkeeping with no experience: Learn the basics online (there are free courses). Practice with simple tools like Excel or free accounting software. Get a beginner bookkeeping course or certification. Offer to help small businesses or friends for practice. Apply for...

“Received on account” means you got some money, but it’s not the full payment yet — just part of what’s owed.

Accounting software helps you keep track of money. It records income, expenses, invoices, and bills and generates reports. Basically, it makes managing finances easier and faster.

Collaborative forecasting is when a company works with others — like suppliers, retailers, or partners — to predict future demand together. Instead of guessing alone, everyone shares info (like sales data, market trends, or inventory levels) to create more accurate forecasts. It helps reduce...

Yes! If you’re self-employed, you can still deduct home office expenses in 2025. You can write off a part of your rent, utilities, and stuff like that—but only if you use a space in your home just for work.If you’re an employee, unfortunately, you can’t deduct home office costs anymore. Want me...

Highest business (corporate) taxes in 2025: New Jersey (11.5%), Minnesota (9.8%), Illinois (9.5%), Alaska (9.4%) Lowest business taxes in 2025: North Carolina (2.25%), Missouri (4%), Oklahoma (4%), Utah (5%) Basically, New Jersey has the highest rates, and North Carolina has one of the lowest...

Lessor is the person or company that owns something and leases it out (rents it to others). Lessee is the person or company that rents or leases the item from the lessor.

Manufacturing overhead is all the indirect costs in making a product, like utilities, rent, and factory supplies—not the raw materials or direct labor.

How to calculate annual wages Annual wages = hourly pay × hours per week × 52 weeks If you get a salary, that’s your annual wage already! Need help with overtime or bonuses? Just ask!

How to show stocks on a balance sheet: Stocks the company owns: List as an asset (like “Investments” or “Marketable Securities”). Company’s own stock: Show under equity as “Common Stock” and “Additional Paid-In Capital.” If the company bought back shares, list that as “Treasury Stock” (a negative).

CA is best if you like accounting, taxes, and money stuff. CS is better if you’re into company rules, legal work, and making sure businesses follow the law. Both are good, it just depends on what you enjoy more!

No, Saturday is not usually considered a business day. Business days are typically Monday through Friday, excluding holidays. Some businesses may be open on Saturdays, but it’s not counted as a standard business day for things like shipping, banking, or processing times.

NYC Sales Tax is about 4.5% goes to New York City 4% goes to New York State 0.375% is a special Metropolitan Transit tax So, when you buy stuff in NYC, expect to pay roughly 9 cents extra per $1.

No, you won’t go to jail just for forgetting or being late. But if you refuse to file on purpose, yes — jail is possible. Tip: Always file, even if you can’t pay. You can set up a payment plan.

To find your tax bracket: Look at your taxable income (after deductions). Check the IRS tax brackets for your filing status (single, married, etc.). Only parts of your income get taxed at each rate—it’s a step-by-step system, not one flat rate. You can also use an online tax calculator to make...