Shyam Pareek

Your HELOC lender will have a claim to that portion of your home’s equity if you default on your loan. If you have not yet used your line of credit, no journal entry is necessary to your accounting ledger. You do not need to reflect an open line of credit on your financial statements as […]

Scrap value is the estimated cost that a fixed asset can be sold for after factoring in full depreciation. The asset that is disposed of is usually salvaged into multiple parts, with each part valued and sold separately. In financial accounting, capital assets or long-term assets, such as machinery, vehicles, furniture, etc., have a useful […]

The purchasing process begins with the identification of a need for goods or services. This may arise from inventory management activities, customer orders, or internal requests from various departments. A purchase requisition is then generated, detailing the items to be ordered, their quantities, and specifications. Upon review and approval of the purchase requisition, a purchase […]

However, making pre-tax contributions will also decrease the amount of your pay that is subject to income tax. The money also grows tax-free so that you only pay income tax when you withdraw it, at which point it has (hopefully) grown substantially. Let’s assume an individual in San Francisco makes an annual salary of $75,000. […]

Working in the first state to legalize marijuana for recreational use, Boxelder’s cannabis accountants are knowledgeable experts in this young and unique field. We’ve helped cannabis cultivators, retailers, and infused product makers (MIPs) implement detailed accounting systems, stay compliant with regulations, and achieve financial growth. Our full-service tax relief, accounting, bookkeeping, and business consulting departments […]