Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...

Determining the value of inventory is an important part of accounting. In order to calculate the profit on a sale, a cost must be assigned to the item sold. A business that is selling large amounts of ...

This organizing strategy takes inspiration from the food service industry. Every day, it feels as if there’s a new organizing craze or trend. One week, it’s decanting everything in your kitchen and ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

Here's why lawmakers moved to take out a costly provision in its initial tax-reform package. Tax reform efforts have been fast and furious in recent months, and with both the House of Representatives ...

FIFO, HIFO and Spec ID (among others) are key methods to calculate crypto tax liability. The choice of method affects your taxable gains and overall liability. Record-keeping is crucial for compliance ...

How much you paid for your cryptocurrency (the cost basis) has a major impact on the taxes you pay when you eventually sell them. Understanding how Specific ID, First in, first out (FIFO) & Highest in ...