Quick Guide: Tax Forms W8 vs W9

ContentOur ServicesOnboard, manage, and pay global contractors in one clickForm W-8BEN ExplainedWhat benefits can I get from it?What Is My Chapter 4 Status? See what your options are, and find the right choice for you. To reset your password, you will need to first, enter your Username and click on Login. You may refer to the instructions below prepared by BB Americas Bank or visit the IRS website for more information. Who should use a W8? Give Form W-8 BEN to the withholding agent or payer if you are a foreign person and you are the beneficial owner of an amount subject to withholding. Submit Form W-8 BEN when requested by the withholding agent or payer whether or not you are claiming a reduced rate of, or exemption from, withholding. This form…

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Do I Need an Accountant or CPA Accountant Cost

ContentYear-End Bookkeeping and Accounting Checklist for Small Business OwnersHow Can I Find a Small Business Accountant?The average hourly fees for client servicesForensic accountingHow to Save Money on Tax PreparationHow Much Does a CPA Charge to Do Business Taxes? Every business wants to be economical and maximize profit. Hence a business owner might hesitate to hire an accountant, as there are many accounting software that could help your business, as long as you have basic accounting knowledge. How Much Will It Cost To Hire An Accountant To Do My Taxes? As much as this software can help save unnecessary costs, you may miss out on crucial financial advice from an experienced accountant. An accountant's charges can be per hour, or a service rate dependent on a business's needs. A specialist accountant is also…

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What Is Double-Entry Accounting and How Does it Work?

ContentAccounting Software To The RescueDouble-entry accounting exampleAccounting Journals, Ledgers, And Double Entry ExplainedStep 2: Use debits and credits for all transactionsWhat is double-entry accounting software?How Do You Start Double-Entry Bookkeeping? A configuration file should be used to define a set of accounts, and potential transfers between those accounts. You just sold $1000 worth of wholesale products, on credit, to a customer. Double-entry bookkeeping can appear complicated at first, but it’s easy to understand and use once the basic concepts have been learned. There is no reason you should ever need to be able to complete double-entry bookkeeping by hand, on paper. However, it's helpful to be aware of the components of a traditional bookkeeping system, so you can comprehend what Wafeq is doing in the background. Get instant access to video lessons…

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Goodwill, Patents, and Other Intangible Assets Financial Accounting

ContentGAAP: Recognition of intangibles and goodwill: old GAAP v FRS 10220 GoodwillIFRIC 20 — Stripping Costs in the Production Phase of a Surface MineHow Is Goodwill Different From Other Assets?IFRS Accounting Goodwill cannot exist independently of the business, nor can it be sold, purchased, or transferred separately. A company's record of innovation and research and development and the experience of its management team are often included, too. As a result, goodwill has an indefinite useful life, unlike most intangible assets. Under old UK GAAP a number of intangibles, such as customers’ and suppliers’ lists, skilled workforce and unregistered intellectual property, would not normally be recognised. Under FRS 102 they are likely to be recognised as separate intangibles as a result of the business combination. The accounting treatment for badwill is regulated under…

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