Author name: Badri Prasad Dhungana

Our team is officially registered with the IRS, making sure that we’re always up-to-date with the latest laws, forms, and requirements. Bank reconciliation ensures that your financial records match your bank statements, helping to identify discrepancies, detect fraud, and prevent errors. Regular reconciliation maintains the accuracy of your financial data. Driving your financial success with …

H & S Accounting LLC CPA Firm in Phoenix, Sun City, AZ Read More »

Tax deductions should not be confused with tax credits, which directly reduce your tax bill. If you calculate your taxes due as $14,000 and are eligible for a $1,000 tax credit, your bill is cut by $1,000 to $13,000. “If you’re unmarried and supporting a dependent, you may qualify for head of household status. Some …

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For 2024 tax returns, the student loan interest deduction starts to phase out when your modified adjusted gross income hits $80,000 (single filers) and $165,000 (joint filers). The decision to itemize deductions typically comes down to whether your eligible itemized deductions exceed the value of your applicable Standard Deduction. If you have minimal expenses, you’re …

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COGS is found on a company’s income statement, usually appearing directly below sales revenue. COGS excludes indirect expenses such as marketing, sales, or administrative costs, which are accounted for separately as operating expenses. If we consider that there are 365 days a year, we can see the days it takes for the firm to transform …

How to Calculate Inventory Days: A Step-by-Step Process Read More »