FIFO stands for “First In, First Out.” This inventory management method assumes that the first items added to inventory are the first to be sold or used. Essentially, it prioritizes the sale of older inventory before newer stock. This approach is particularly beneficial in industries where products have a limited shelf life, such as food […]
You know you want to allow for accurate tracking, analysis, and reporting of financial transactions related to construction activities, but you need to figure out which tool is best. If you think general accounting software is enough for you, choose QuickBooks Online. However, if you need specialized contractor features, consider Premier Construction Software or Sage […]
Taxpayers over 65 (or legally blind) who file tax returns jointly are allowed an additional $1,000. Illinois’ maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Illinois’ %. You can learn more about how the Illinois income tax compares to other states’ income taxes by visiting our map […]