The difference between variable costs and fixed costs is as follows. Some managers prefer to work with the contribution margin ratio rather than the unit contribution margin. The CM ratio is particularly valuable in situations where trade-offs must be made between more dollar sales of one product versus more dollar sales of another. Generally speaking, […]

A key characteristic of the contribution margin is that it remains fixed on a per unit basis irrespective of the number of units manufactured or sold. On the other hand, the net profit per unit may increase/decrease non-linearly with the number of units sold as it includes the fixed costs. Furthermore, a higher contribution margin […]

While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. If you invoke the guarantee, QuickBooks will conduct a full n evaluation of the Live bookkeeper’s work. Advanced suits growing businesses, incorporating all previous features plus enhancements for […]

Given Intuit QuickBooks Online’s high price, you need to be committed to using it conscientiously and comprehensively. In particular, its inventory and reporting tools are in a class above others. QuickBooks Online is an Editors’ Choice winner alongside FreshBooks, which isn’t quite as thorough or flexible but better caters to service-based businesses. No other accounting […]

LITCs can represent taxpayers in audits, appeals, and tax collection disputes before the IRS and in court. In addition, LITCs can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. For more information or to find an LITC near you, see the LITC page on […]

You can file Form W-7, Application for IRS Individual Taxpayer Identification Number (ITIN), with your federal income tax return. You must also include original documentation or certified copies from the issuing agency to prove identity and foreign status. If questions 11 through preparing a trial balance for your business 17 on Form SS-4 do not […]