Adam Hill, author at Online Accounting

Adam Hill started accounting and trading back in 2007. He has achieved quite a lot of success. Now he decided to open his blog. Here he publishes articles on accounting. For any questions of interest, please contact us by e-mail: admin-hill@online-accounting.net

Net Income Meaning and Calculating

Mar 22, 2022 Accounting Blog by Adam Hill

Net income is the accounting profit amount that a company has left after paying its expenses. It is determined by net sales revenue and cost, general and administrative expenses, depreciation and amortization, interest expenses, taxes, and other expenses. Net income is the last line on the income statement itself. Some income statements will have a
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Gross Income and How to Calculate it

Mar 7, 2022 Accounting Blog by Adam Hill

Gross income is the total revenue that a person makes before paying taxes and claiming deductions or credits. When the person claims deductions, gross becomes net income. If you take a look at a pay stub, then net income is what you see after paying taxes, so it’s always lower than gross income. The only
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Equity Method of Accounting: How does It Work

Feb 27, 2022 Accounting Blog by Adam Hill

Companies use various accounting methods to track their losses and gains properly. If a business invests in another company, they most likely use the equity method of accounting to make sure the investment brings profit rather than losses. Understanding how the method works may help you decide if it’s a proper accounting strategy for your
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What is Progressive Tax

Feb 23, 2022 Accounting Blog by Adam Hill

A progressive tax system increases rates for taxpayers as their taxable revenue increases. The system requires determining specific brackets with rates that gradually increase. An example of a progressive system is when rates move from 0% to 45%, so from the lowest to the highest bracket depending on the taxable income. According to this system,
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Guide on How to Calculate Annual Income

Feb 19, 2022 Accounting Blog by Adam Hill

Having a job and earning profit from some investments means generating annual income. In this article, you will learn what annual income is and how to calculate it. The article also describes other types of revenue, which are often confused with annual income. Keep reading to learn more about the topic. Understanding Annual Income Annual
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