For determining a part-time employee’s pro rata salary, you should divide the yearly salary by the full-time hours, and then multiply the result by the actual hours worked. This way, a part-time employee working 30 hours per week would receive a pro rata salary reflecting their hours worked, in comparison to a full-time employee working […]
Read MoreDepending on your filing status and the income you received during the year, your marginal tax rate could be as high as 37%. Not only have rates been adjusted historically, but the income tax brackets have changed also. For example, in 2019, a married couple filing jointly with accounting vs finance a household income of […]
Read MoreIf you have a simple tax situation and have filled out your W-4 correctly, taxes already withheld from your paychecks might cover that bill for the year. Likewise, if you’re a freelancer or a taxpayer who must pay estimated taxes, payments you made during the year might also cover your bill. Tax returns for 2023 […]
Read MorePlus, because your company is paying half of your Social Security and Medicare taxes, you will only pay 7.65%, which is half of what you will pay if you take an owner’s draw. An owner’s salary is a fixed amount paid to you on a regularly scheduled pay period. The amount of your salary will […]
Read MoreThe other project would have a payback period of 4.25 years but would generate higher returns on investment than the first project. However, based solely on the payback period, the firm would select the first project over this alternative. The implications of this are that firms may choose investments with shorter payback periods at the […]
Read MoreOver 1.8 million professionals use CFI to learn accounting, financial analysis, modeling and more. Start with a free account to explore 20+ always-free courses and hundreds of finance templates and cheat sheets. Though engineering Accounting For Engineering Firms is a truly diverse field with a variety of different avenues one may take, accounting itself is […]
Read More(2) Mark-and-spread method To match an inventory hedge to the timing of aggregate hedged items, a taxpayer may account for the hedge under the mark-and-spread method. Mark-and-spread is permissible for an aggregate inventory hedger. The cash balance declined here because salary was paid to an employee. The transaction analysis for this can be evident from […]
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