Does Your Accounting Department Have Holes in It? You’ve got someone to do your federal and state income tax returns, and you have a bookkeeper. So that’s all that a small business needs when it comes to having an accounting department, right? Wrong. Large companies have many
Read more →The balance sheet is one of the main financial reports for any business. Among other things, it shows what a company owns, what they owe, and how much they and others have invested in the business. One of the characteristics of a balance sheet is how it
Read more →Just about every business relies on “word-of-mouth” marketing to get the vast majority of its clients. If this is true for your business, then it just makes sense to figure out how to boost your referrals from all sources. Referrals are almost always easier to sell and
Read more →If you have workers in your business, you likely made a decision when you hired them as to whether they should be an employee or a contractor. If all you hire are employees, then you have nothing to worry about. But if you hire contractors, there may
Read more →In 2014, a U.S. tax court reinterpreted the rules on rollovers between IRA accounts. A rollover is when an IRA holder withdraws money from a Traditional or Roth IRA and redeposits the money into the same type of IRA within 60 days. During this period, the taxpayer
Read more →As a business owner, you’re likely torn in a hundred different directions every day. It can take up most of the work day just fighting fires, serving your customers, and answering employees’ questions. It’s super-easy to lose sight of what you can be doing to move your
Read more →We are all on the look-out for ways to save money on our taxes. Here are five deductions taxpayers tried to take and were denied: THE COST OF TRAFFIC CITATIONS – Just because you are running late to a business meeting doesn’t make the cost of a citation
Read more →Are you manually entering data into your accounting system? If so, there may be a way to enter that data that’s faster, cheaper, and better. Data entry automation has come a long way. Here are five common ways to automate data entry so that it no longer
Read more →The Internal Revenue Service is slated to begin processing tax returns for the 2014 calendar year on January 20, 2015, while dealing with the Affordable Care Act and another round of congressional budget cuts. The IRS commissioner implored taxpayers to call the IRS with questions, only as
Read more →A great way to start the new year is to get clear on exactly how you can make your revenue goal number. A revenue plan is the perfect tool. You’ll need to be proficient in Excel, and if not, you can work with your accountant on this
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