Diagnostic analytics uses analytics to describe why something happened. Diagnostic analytics takes the development of descriptive analytics a step further and is generating a root cause analysis to see: What caused the company’s sales last month, last quarter, last year to increase or decrease? Why were there changes in the company’s largest customer? Why were …
Descriptive analytics is the utilization of analytics to describe what happened. Generally, descriptive analytics entails the gathering of historical data/transactions and using this data to answer questions about the past and provide context to historical activity. Questions like: What were the Company’s sales last month, last quarter, last year? Who were the Company’s largest and …
The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset. Don’t miss: Owe money? File your tax return on time even if you can’t pay. Here are 10 facts from the IRS on …
The IRS expects every taxpayer to file tax returns and pay their tax obligations in a timely manner. For most, this means by April 15. However, the amount owed can sometimes take you by surprise, and you may not have the necessary cash on hand to pay the full amount of tax by that deadline. …
When COVID-19 hit the U.S. earlier this year, millions of employees were told to pack up their things and work from home. Without having to commute to work each day, many have decided to pack up their homes and move out of the “big city” for a lower cost of living. If this sounds familiar, …
A few years ago I thought I’d make some extra cash driving for UBER on my days off. I signed up on their platform, went through their car approval process and got the sticker in the mail. I never actually drove for them, but when I was in a car accident last year I answered …
You, like many other taxpayers in the US, may have received a letter from the IRS after receiving your economic impact stimulus payment. Your first reaction when seeing the unopened letter is OMG … what did I do wrong?!! Your second reaction after opening the letter is what do I do with this?! Don’t miss: …
If you have dabbled in the realm of international taxes and reporting, then you may know that failing to file certain forms can lead to hefty fines. Failing to file FinCEN Form 114: Report of Foreign Bank & Financial Accounts (known as the “FBAR”) can carry a civil penalty of up to $10,000 for each …
After President Trump declared a state of emergency due to COVID-19 in mid-March, there were 45 million new unemployment claims filed in the three months that followed. For many of the people receiving unemployment compensation, this is all new territory. If you find yourself in this situation, it is important to understand that these payments …
When Congress passed the CARES Act into law back in March of this year, approximately 85% of US households expected to receive a check. Most recipients should have received $1,200 per adult and $500 per dependent child, with a reduction taking place for individuals with an adjusted gross income over $75,000 and married couples filing …
The new revenue recognition standard takes effect for most private companies in 2019, but you can’t wait until then to learn about this. Download our new e-Book now.
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