How do I calculate my current tax provision?

How do I calculate my current tax provision? We all know the general formula for the income tax provision: current tax expense or benefit + deferred tax expense or benefit = total income tax expense or benefit as reported in the financial statements. What is the entry for provision of income tax? Provision for Income […]

How does inflation affect prices?

How does inflation affect prices? Inflation raises prices, lowering your purchasing power. It also lowers the values of pensions, savings, and Treasury notes. Assets such as real estate and collectibles usually keep up with inflation. Variable interest rates on loans increase during inflation. What is causing inflation in us? Inflation can occur when prices rise […]

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