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December 20, 2021

Charles Lutwidge
Form 1065: U.S. Return of Partnership Income

Form 1065: U.S. Return of Partnership Income

First, let’s say that there are many types of Partnerships legally, but as far as taxes are concerned they are the same. If you’re a multi-member LLC who is not in business with your spouse, then the default is a Partnership...

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December 17, 2021

Charles Lutwidge
What You Need to Know About Independent Contractor

What You Need to Know About Independent Contractor

There are several indicators that point out that one is an independent contractor rather than an employee. Although these are negotiable, they determine the rates on their own and decide when and where to invest their time and effort. They dictate..

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December 17, 2021

Charles Lutwidge
What You Need To Know About Tax Refunds

What You Need To Know About Tax Refunds

Overview We all love when we are given a bonus at work or a good deal during shopping. How would not like to have a little extra cash? Although most people have some vague idea of what a tax refund is..

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December 16, 2021

Charles Lutwidge
What is a Full Charge Bookkeeper

What is a Full Charge Bookkeeper

Role overview Accountants are persons that record the day-to-day transitions for commerce into the book-keeping records. Typically, in many small companies, that might be one person, so no one else is taking care of any of the bookkeeping tasks. Thus, it..

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December 15, 2021

Charles Lutwidge
Month-End Close Process

Month-End Close Process

Concept Overview When it comes to bookkeeping and accounting, there is so much one needs to learn. First of all, let’s define the concept. Closing of the bookkeeping accounts is a procedure that happens at the end of each month and..

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December 14, 2021

Charles Lutwidge
Percentage of Completion Method

Percentage of Completion Method

Some types of services (projects) are performed not at once, but over a span of several reporting term. Examples of such projects include the construction of large buildings or other structures by contractors as well as software development. In this case,..

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December 13, 2021

Charles Lutwidge
GrowthForce Review

GrowthForce Review

GrowthForce is an outsourced bookkeeping, accounting, advisory, and controller services provider. It was founded back in 2004 and has a main office in Kingwood, TX. It is one of the largest outsourcing companies in the United States that helps different types..

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December 12, 2021

Charles Lutwidge
How to Calculate Withholding Tax

How to Calculate Withholding Tax

Taxes are something everyone has to deal with not only once a year when paying income taxes, but also on a more regular basis. People in the US who work, make their living as employees, and even those who are self-employed..

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December 11, 2021

Charles Lutwidge
Creating a Monthly Bookkeeping Checklist

Creating a Monthly Bookkeeping Checklist

It is good to have an actual checklist of the things you need to go over once every month is over. This checklist is going to act as a guide either for you or your bookkeeper, to ensure that everything looks..

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