2022 Bar Exam Passing Rates (Infographics)
Based on the results published by the various states and the NCBE announcements so far, we have put together the infographics showing the passing statistics for the 2022 Bar Exams in February and July.
Classifying Transactions on QBO – Categorization History
When classifying bank transactions on Quickbooks Online, it can be useful to recall how expenses with a particular vendor were classified in the past. QBO allows you to easily search the vendor's Categorization History from the Banking Screen directly.
American Opportunity Credit
The American Opportunity Credit is a credit for post-secondary costs applied to decrease the taxes owed by a student, their spouse, and/or a dependent. The credit is designed to help qualifying low to moderate income persons cover the significant fees related to post-secondary education.
2022–2023 Standard and Itemized Deductions
An introduction to the standard and itemized deductions that all taxpayers should know, as well as the established rates for 2022 and 2023.
2022 – 2023 Income Tax Brackets
An introduction to income tax brackets that all taxpayers should know, as well as the established rates for 2022 and 2023.
Double-Entry Bookkeeping Made Simple(ish)
An introduction to the system of double-entry bookkeeping. Including a glimpse into how dual entries help maintain balance sheet equilibrium.
Proportional and Incremental Methods for Recording Lump Sum Security Sales
The Proportional and Incremental methods are two ways companies can allocate the lump sum total earned on a sale of multiple securities. This is a clear explanation with a step-by-step example.
Medical Expenses Checklist
Qualifying medical expenses paid out of pocket can be deducted on taxes for taxpayers who itemize their deductions. With dozens of potential expenses to consider, we offer a starting point in the checklist below. Here, you will find some of the most commonly identified expenses as listed in the IRS Publication 502.
Keep It Personal – Classify Your Online Payments Properly or Face the 1099-K
The 1099-K originates in business transactions performed using online payment systems like PayPal. The situation changed for everyone starting January 2022, eliminating a potential tax loophole for small businesses and creating substantial more risk for personal use.
Tracking Education Expenses
The government recognizes several different tax breaks for students and parents that might save you thousands of dollars. That could add up rather quickly.