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Articles

March 28, 2022

Charles Lutwidge
What is the difference between 1099 and W2 Employees

What is the difference between 1099 and W2 Employees

The business world has various confusing matters, for instance, W2 and 1099 workers. These are two types of employees that fill out different forms. But what is the difference between them? Most individuals probably know that salaried employees fill out W2..

Reading Time 8 mins
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Articles

March 25, 2022

Charles Lutwidge
What Is A Pay Stub

What Is A Pay Stub

We all have to work to earn our living. Some of us earn salaries, others get wages. But we all get paid for our work. That’s why we receive paychecks. But how can someone tell how much they earn before and..

Reading Time 5 mins
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Articles

March 24, 2022

Charles Lutwidge
How Long You Ought To Keep Business Records

How Long You Ought To Keep Business Records

Every business produces tons of documentation they must keep for some while. But what documents and for how long? It’s a topic of great concern for many business owners. Record-keeping is a tedious but critical procedure reflected in the IRS guidelines...

Reading Time 5 mins
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Articles

March 23, 2022

Charles Lutwidge
What is Certified Payroll

What is Certified Payroll

When a business is working on a federally funded project as an independent contractor, one of the requirements is submitting a weekly payroll report. This report is called a certified report. A business must submit it to the U.S. Department of..

Reading Time 5 mins
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Articles

March 22, 2022

Charles Lutwidge
What are Stale Dated Checks

What are Stale Dated Checks

Some businesses may feel tempted to procrastinate depositing or cashing the check. It’s widespread for companies to delay this process if the amount is relatively low. But business owners should understand: these checks have an expiration date. In other words, a..

Reading Time 6 mins
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Articles

March 21, 2022

Charles Lutwidge
What is the Difference Between Financial and Managerial Accounting

What is the Difference Between Financial and Managerial Accounting

Financial and managerial accounting are two practices used to generate business reports. Financial and managerial methods are two of the four biggest branches of the accounting discipline. It might seem that these two methods are very similar. However, financial and managerial..

Reading Time 4 mins
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Articles

March 18, 2022

Charles Lutwidge
What is a Multi-Step Income Statement

What is a Multi-Step Income Statement

An income statement, also called a profit and loss statement, is one of the three most significant financial statements businesses and organizations should prepare as part of financial accounting. A multi step income statement is one of two types of formats..

Reading Time 5 mins
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Articles

March 17, 2022

Charles Lutwidge
CPA vs Accountant

CPA vs Accountant

You may have come across different terms, such as an accountant and a CPA. But what is the difference between these two? An accountant is someone who has a bachelor’s degree in accounting. But a CPA is a designation that a..

Reading Time 5 mins
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Articles

March 16, 2022

Charles Lutwidge
Net Cash Flow Formula

Net Cash Flow Formula

The concept of “net cash flow” reflects the amount of cash generated or lost by a company during a specific period. The periods of calculating may be different: week, month, quarter, annual. In simple words, the concept reflects a business’s cash..

Reading Time 5 mins
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Articles

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