Financial Tasks to Tackle in the Month of May
The month of May is a great time to tackle some financial tasks. Here are some things you can do to get your finances in order.
7 Steps to Start a Business
Starting a business is romantic—being your own boss, developing your ideas, and chasing your dreams. But how? Here are seven smart steps to get you started.
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.
An Overview of Financial Statements
Investors and financial analysts rely on financial data to analyze the performance of a company and make predictions about the future direction of the company’s stock price. One of the most important resources of reliable and audited financial data is the annual report, which contains the firm’s financial statements.
The Importance of Financial Forecasting
Financial forecasting refers to financial projections performed to facilitate any decision-making relevant for determining future business performance. The financial forecasting process includes the analysis of past business performance, current business trends, and any other relevant factors.
What is the Accounting Cycle
Accounting is the process of gathering information on business activity, posting transactions, and producing true and accurate financial statements. The accounting cycle is a series of steps, completed in a specific order, that ends with a set of accurate financial statements. If you don’t follow each step in the cycle, you won’t produce accurate financial data, which can really be detrimental to a small business.
How to Pay Yourself as a Business Owner
Learn when and how you should pay yourself as a business owner.
Most Common Mistakes Why Businesses Fail
Here are five practices that business owners need to avoid in order to have a successful business.
Should You Do The Bookkeeping Yourself
The value of bookkeeping for your business has more benefit than just money. Here we will discuss some of the pros and cons of doing your own bookkeeping for your business.
How to Deduct Vehicles for Your Business Use
Learning how to deduct vehicles for business use will allow you to make the most out of your write-offs.
How to Record Vendor Bills in QuickBooks
Learning how to record Vendor bills in QuickBooks will allow you to track all of your expenses and run a A/P report.
How Business Structures Impact Bookkeeping
Business structures will ultimately affect how taxes are filed each year by the business and individuals. IN this blog, we will discuss the different business structures and how they operate when it comes to taxes.
Financial Accounting Overview
Here is an overview about Financial Accounting that is used by accountants to document, compile, and outline a business’s financial performance over a specific time period.
How to Determine Partnership Tax Cost Basis, Inside and Out
Want to know how to determine a partnership tax cost basis? This involves defining and calculating the outside cost and inside cost basis.
The Importance of Accounts Payable
Accounts payable are debts due by a business to its suppliers. Your payables must be correct for your balance sheet to be accurate.
8 Tips for Creating a Budget
A budget helps you avoid overspending and running out of money. To help you prepare, we’ve compiled 8 budgeting tips.
What You Should Know About Managing Cash-Flow
As a business owner, managing cash flow is often one of the biggest challenges. Here is what you should know about cash flow management.
What Determines the Longevity of a Company?
Small business owners that have sustainable, long-term growth plans are far more likely to build a business that lasts. Read our article to find out what factors may affect the longevity of your business.
The Actual Cost of Hiring an Employee
When hiring an employee, there are a few things to consider. One of them is the fact that the cost of hiring an employee is greater than their hourly wage.
How Businesses Can Combat Inflation’s Toll
According to the U.S. Bureau of Labor Statistics (BLS), the Producer Price Index (PPI) or the increase in prices saw a substantial rise. With costs not appearing to abate anytime soon, here are a few steps that businesses can take to combat inflation.
How to Get Your 2022 Finances in Order
As the New Year is here, here is the time to review your finances and be financially ready for what’s ahead. Learn about a few tasks you can get started on right away.
Standard Mileage Rates For 2022
The Internal Revenue Service has lately introduced the inflation-adjusted 2022 elective standard mileage rates used for the calculation of deductible costs of running a vehicle for business, charitable, medical, or moving purposes.
Small Business Startup Costs Deductions
If you’ve got recently a business started – or are contemplating to start a business – there are a few things you should know as a new business owner. You could be eligible to deduct your business costs incurred before the business started operating. Read our article to learn more.
Should Your Business File Forms 1099?
By law, you may be required to issue Forms 1099 to worker and the IRS by January 31st, 2022, if you hired independent contractors to perform services for your company, and paid them each $600 or more for the year.
Should Your Workers Be Classified As A Contractor or An Employee?
Are your workers properly classified and managed for your business taxes? Find out how the IRS determines your workers tax status and filing.