You’ve probably heard all the statistics about how many small businesses fail within their first several years. In many cases, these failures are a result of poor cash flow management on the part of the company. So how can you better manage your cash flow and avoid problems that could prove to be financially catastrophic …
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Running payroll is an extremely important job, and it’s critical that you maintain accuracy in the process, as even little mistakes could end up having big consequences. Many small businesses have their owner or another person in-house without much bookkeeping or accounting experience performing payroll tasks, which opens the company up to a greater likelihood …
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The Tax Cuts and Jobs Act goes into effect on January 1, 2019, and with it will come many changes to the kinds of deductions tax filers are able to claim. Charitable contribution deductions, however, will continue to exist in their current form. Under charitable deduction rules, you are allowed to deduct contributions of property …
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As the owner of a small business, you’re naturally going to want to do everything you can to put your business in a position where it’s able to grow and flourish. However, there are a variety of common problems that can prevent your business from reaching its full growth potential. Bookkeeping is one of those …
The Biggest Issues a Bookkeeper Can Solve for Your Business Read More »
As a homeowner, you have access to some tax benefits that renters do not have. Among these benefits is the ability to deduct the interest you pay on your mortgage loan when filling out your income tax return. Considering how much interest you pay on a mortgage loan, especially if you make payments throughout the …
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If you have an office in your home that you use for business purposes, you may be able to deduct some expenses for the business use of that space on your income taxes. The home office deduction is available to anyone who owns or rents a home, no matter what type of home it is. …
If you’ve welcomed a new child to your family this year, you’ll need to consider how it will affect your tax return in the coming year. Here are a few examples of ways your taxes will be affected by your new addition. Social Security number You will need a Social Security number for your child …
The turn of the seasons, as well as the passage into new quarters of the business year, is always a good time to take a moment to evaluate your business’s financial standing and the progress you’re making in your various company goals. Considering the summer is often a slower time of year for many businesses, …
Many owners of small- and medium-sized businesses try to keep up with their own books themselves. However, business owners often attempt to wear too many hats in an effort to save money and maintain more control over their operations. The more a business owner tries to do at once, the less time they’re actually able …
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Ask a group of small business owners what their biggest stressor is and most of them are going to point to their bookkeeping. Few business owners have the in-depth knowledge needed to manage their business’ daily financials, including cash flow, accounts receivable, invoicing, expense recording and more. And, even those with the skills to keep …
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