Choosing between a SIMPLE and SEP IRA depends on factors such as the number of employees and net income. SIMPLE IRAs are for businesses with fewer than 100 employees, while SEP IRAs are for high-income entrepreneurs without employees. The biggest difference is the amount that can be contributed tax-deferred, which depends on income. Both plans […]
Ledgers track cash inflows and outflows, with general ledgers separating asset and liability balances into debits and credits. Sub-ledgers detail transactions affecting account balances, with ending balances transferred to general ledgers. Ledgers are used to create a company’s financial statements. Simple ledgers are used by businesses to track and document cash inflows and outflows. General […]
English has multiple ways to express the past, with the simple past being the most common. It can describe actions of limited duration, finite periods, past habits, and ongoing states. The past is never truly over, as it shapes our present and future. Every language has a way in which events that happened in the […]
Simple organizational structures with few levels of management are good for small businesses. They can be flat, with different types including line discipline, line production, or division-style subdivisions. Owners have more control and can adjust the company as it grows. Simple organizational structures are usually good for companies that have 100 or fewer employees. The […]
Tips for rolling over a SIMPLE IRA include depositing the money into the new account within 60 days and choosing the same type of account for a less than two-year-old IRA. Timing is important, and transfers may be an option to avoid taxes and penalties. An Employee Individual Retirement Account Incentive Savings Plan (SIMPLE IRA) […]
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