Companies that use accrual accounting often end up with deferred expenses on their balance sheets. That's because under accrual accounting, accountants recognize expenses when they occur, not when the ...

The amount your business spends on insurance will affect the numbers on your balance sheet, but your balance sheet will not include a specific line or category for insurance expense, or any other ...

Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

Melissa Horton is a financial literacy professional. She has 10+ years of experience in the financial services and planning industry. Somer G. Anderson is CPA, doctor of accounting, and an accounting ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.