What is a line of credit

A business line of credit is a revolving line of credit that allows you to borrow up to a certain limit and pay the money back over time.  The best way to understand how a business line of credit works is to think about it as a personal line of credit. A personal line of …

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What is depreciation?

Depreciation is the decrease in the value of an asset over time. This can be caused by factors such as wear and tear, age, or changes in the market. When an asset is depreciated, its value is reduced for accounting purposes. There are several methods that can be used to calculate depreciation. The most common …

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What is Double Taxation?

Double Taxation Definition Double taxation is a term that refers to when a company’s income is taxed and then the distributions or dividends that are paid to shareholders are also taxed. The C-corporation is the only business structure that undergoes double taxation. Since a C-corporation is an entity established separately from its owners and its …

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