So, to set your accounting team up for success, you must equip them with a good trucking accounting software. As a trucking company payroll software, Q7 gets you detailed employee records, tax reporting data, and information about hours, salaries, miles, revenue percentages and flat payments. If you own your own rig and are an independent […]
Income Summary Definition, Purpose, How to Close
As we’ve noted in prior letters and on our blog Artisancanvas.com, value is historically cheap. Aside from the pandemic years of 2020 to 2021, large-cap value hasn’t been this cheap relative to large-cap growth since the aftermath of the tech bubble. The Russell 1000® Value Index trades for 16.5X FY1 estimated earnings. The average and […]
How to calculate total equity
When a company has negative owner’s equity and the owner takes draws from the company, those draws may be taxable as capital gains on the owner’s tax return. For that reason, business owners should monitor their capital accounts and try not to take money from the company unless their capital account has a positive balance. […]