Category: General

Is Cod ordinary income?

Note that COD income is ordinary income, and the gain or loss on the sale part of the transaction may be capital gain or loss. The whole transaction is a ...

What do court costs include?

In the United States, “court costs” (such as filing fees, copying and postage) are differentiated from attorney’s fees, which are the hourly rates paid to...

Is prepaid expense an accrual?

Accrued expenses are the opposite of prepaid expenses. Prepaid expenses are payments made in advance for goods and services that are expected to be provid...