Why Your Business Needs A Professional Bookkeeper
Professional bookkeepers do more than manage finances. They can also help you boost profits. They can help you save on taxes, invest wisely, and prevent costly financial mistakes.
Form 1099-K Reporting: Know the Latest Updates
According to a release from the IRS in December 2022, new requirements for so-called third-party settlement organizations (TPSOs) to report income and transactions have been delayed for one year. When items are sold for a profit, the 1099-K Form intends to ensure the income earned is reported to the IRS (and state revenue agency).
Cash Flow Statement Analysis for Smart Financial Decisions
Cash flow is the movement of money in and out of your business and your business bank account. Think of cash flow like your car’s gas tank. You fill up the tank with gas, and it empties as you drive. The goal, however, is to always have enough gas in your tank to avoid running out. Cash inflows are your sources of income while cash outflows are your business expenses.
