Bookkeeping

What Is FICA Federal Insurance Contributions Act?

Since its ratification, the federal income tax has become a contra asset account pivotal part of a booming American economy, ensuring that essential services are properly funded and provided to citizens from coast to coast. With FICA in the mix, we ensure that every American has the proper resources to live a sustainable life. FICA has been reformed and fine-tuned to suit the evolving needs of the American population, and the tax rates and wage bases have shifted to accommodate changes in age de...
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What Is a Business Credit Card and How Does It Work?

Some of the differences between a business card and a personal credit card are higher credit limits, business-specific reward categories, expense summaries, and increased consumer protections. With the Ink Business Preferred, you’ll earn 3X points on the first $150,000 in combined purchases made on travel and in select business categories each account anniversary year. The card also touts a hefty sign-up bonus of 90,000 points after spending $8,000 within the first three months, worth $1,125 t...
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