When setting up your small business accounting system, one important decision needs to be made before you can move forward: do you want to use cash or accrual based accounting? There are pros and cons to both of these options, and a qualified accountant can help you determine the best approach for your business needs.
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Taxes. If you are self-employed, the myriad tax rules that apply to your income may dampen your entrepreneurial spirit. Especially as the tax year comes to an end. But, taxes don’t have to be such a burden. We’re here to give you some advice on how you can take advantage of tax planning strategies this year.
It is easy for small business owners to get stuck with questionable business practices, especially when they are in the early stages of development. Sometimes in the zeal to achieve profitability and success, the employees and management take shortcuts. Here are ten frequently overlooked secrets about small business management that will help your company achieve success:
Cash flow management can make-or-break a company, and if you aren't properly managing the flow of your money, then you are setting your business up for failure. If you want to achieve long-term success with your company, then you need to make sure that you have cash available at all times.
Bookkeeping can be a thorn in every business owner’s side, especially if the business doesn’t have a good system in place. Many companies are turning to virtual bookkeeping services, and it is easy to see why this trend is gaining in popularity. Here are some advantages:
If you are putting together a startup business, one of the most common problems that you will face is cash flow. How are you supposed to start a successful business if you don’t have any money to build a strong foundation? Startup business loans are a great option to help you get access to the funding that you need. Here are a few things that you need to know if you are trying to use small business startup loans.
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As a real estate investor, bookkeeping is part of your daily life. You have to monitor the cash flow in, and make sure you’re managing your outflow in a profitable manner. For many investors, a paper bookkeeping system is the one they know and use. However, paper may be holding you back; for many, it’s past time to make the switch to an accounting software program.
Cash flow management can make-or-break a company, and if you aren't properly managing the flow of your money, then you are setting your business up for failure. If you want to achieve long-term success with your company, then you need to make sure that you have cash available at all times.
Did you recently start working for yourself? If so, you may owe self-employment taxes on your earnings as an independent contractor or a sole proprietor. That's true no matter what your age – even if you're receiving social security benefits. Here’s why:
Many small business owners use accounting or bookkeeping services to manage their day to day financial records and reports. They find that these services have a direct impact on the cash flow and profitability of thier businesses. If you are planning to hire a small business accounting service, there are several things that you need to keep in mind before you make the decision.