Every business must manage its finances, and understanding the fiscal year is a crucial component in accomplishing that objective. The fiscal year is an integral part of accounting and tax reporting, but its start and end dates may not always align with what you...
In the dynamic day-to-day of entrepreneurship, bookkeeping can be the stabilizing force that keeps your business running smoothly. It's not always the topic that sparks the most excitement, but it's undeniably critical for business success. Let’s take a closer look at what bookkeeping is,...
The tax season is a stressful time for anyone involved with taxes. However, for accountants, it can be an overwhelming time. The workload avalanche, coupled with the time constrictions, can lead to burnout. It isn’t surprising to find that 82% of accountants experience it....
Lowering your tax liability is a primary aim of business owners. Did you know there are qualified expenses you can deduct from your taxes? This guide shows you some of the most common business tax deductions. Which Expenses Can I Deduct? You can claim deductions on...
Running a small business successfully requires that you know where you stand financially at any point in time. You need to have solid projections for future expenses and income, and you need a clear picture of how much available cash you have on hand....
When you run a small business, you are probably doing most of the work yourself. That includes the administrative work of keeping track of invoices, payments, and other financial transactions. Online accounting software, such as QuickBooks, can help reduce some of the stress involved...
As a small business owner, you have a lot of financial considerations every day. Some of those are related to your tax status and how your operations affect your employees and their paychecks. If you have formed an S-corporation, there are specific rules and...
Focusing on your business operations is a full-time job. Running a business with employees can take additional time to ensure that you are following all the guidelines and regulations, especially in making sure that your employees are paid properly and on time. Payroll services...
Individuals who do not have a Social Security number but who need to file tax returns will have to obtain an identification number so they can comply with US tax laws. This number is known as an Individual Taxpayer Identification Number (ITIN). It’s important...
When you operate a small business, you have a lot to manage. As you focus on your core service or product, working to ensure that your customers are happy, you also have to make sure your financial records are current and accurate. Bookkeeping for...
