Posts

  • Factors To Consider When Choosing Accounting Services

    Many newbie entrepreneurs struggle with tracking their finances and doing their own taxes. While there are software applications that ease the burden of accounting, some financial tasks are best handled by a professional accountant. Here are some considerations that will help you choose the appropriate accounting service for your business. What Are Your Specific Needs? Many people rush to find accounting services before getting their expectations right. A 2017 Small Business Taxation Survey found that 61% of small entrepreneurs hire an external tax accountant.
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  • The Value Of Taking Quickbooks Online Training To Manage Your Finances

    As a business owner, you want to do everything possible to manage and protect your business's finances. However, you may lack the time to sit down and balance your business's books by hand. You also may lack the talent to figure out the math without making serious errors. Rather than put your business's finances at risk, you can install software that is designed to manage your finances for you. You can benefit by taking Quickbooks online training to learn how to use this software properly.
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  • Time-Consuming Tasks To Send Off To Your Small Business's Accountant

    When you open a small business, you need to retain a number of outside contractors to ensure its success. In particular, you can benefit from hiring a certified public accountant to oversee your finances and bookwork.  This contractor can provide a number of valuable services that can underlie your success as a business owner. They can handle time-consuming yet important financial tasks that you cannot ignore or delay. Keeping Your Books Current
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  • 5 Ways To Avoid Paying Taxes On Cancelled Debt

    Debt relief through the cancellation of a debt owed—when a lender "writes off" the remaining portion of debt for various reasons—can be a big help when you are struggling under a debt burden. But this action does have tax consequences that often come as a surprise to borrowers. Cancellation of debt is generally taxable income on your annual Form 1040. However, there are important exceptions that don't require you to pay taxes on this income.
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  • 3 Key Tips To Reap The Benefits Of A Special Purpose Entity

    When you buy real estate as an investment, you need to protect your financial investment as much as possible. One way that many real estate investors do this is by creating a special purpose entity or special purpose vehicle. This separate business entity distances your personal finances from the business obligations so that your risk is vastly reduced.  But in order to receive the legal protections you want from your special purpose entity, you must take a few steps.
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  • Tax Tips For The End Of The Year To Lessen Crunch-Time Stress

    The end of the year is coming — much sooner than many are ready for. Now is the time to start thinking about taxes. Although you'd rather be spending your days preparing for and celebrating the holidays, taxes must take some level of priority. Here, you'll find a few tips to help you prepare for the upcoming tax season before the year comes to an end. Find a Tax Preparation Service
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  • What Is The Difference Between A CPA And A Bookkeeper?

    You just launched your business. Being the savvy businessperson that you are, you understand the need to hire someone to manage your finances properly. However, some people are telling you that what you need is a bookkeeper while others are telling you that you need a CPA. Which of the two do you actually need? It's not unusual for people to get the roles of bookkeepers and accountants confused. There is some overlap in the roles served by the two.
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  • The Four Categories Of A General Ledger

    Financial organization is a key component in the management of any successful business. Many small business owners can be overwhelmed by the day-to-day tracking of financial transactions, but establishing a comprehensive way to capture each transaction will help you make your business more profitable over time. If you haven't already set up a general ledger for your business, you should make this a top priority. General ledgers provide a comprehensive look at the financial health of your business and help ensure consistency in your bookkeeping services.
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  • 5 Reasons To Hire A Tax Prep Pro

    When it comes time to handle taxes during tax season, many individuals and families get stressed out. It takes a lot of time and work to handle taxes and it can be very confusing to the average person. Instead of getting anxious and waiting until the last minute to handle your affairs, it can pay to hire a professional. They can guide you every step of the way as you gather your documents and they can file your taxes for you!
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