Posts Tagged ‘Accounting’
Accountant vs. CPA: The 5 Main Differences
The terms “accountant” and “certified public accountant” or “CPA” are often used interchangeably. But they’re not exactly the same thing. All CPAs are accountants, but not all accountants are CPAs. Here’s a look at the five main differences between them. Education Accountants generally have an associate’s or bachelor’s degree in accounting, though in reality they…
Read More3 Most Efficient Ways to Set Up Your Business’s Financial Systems for Success
Your financial system should be as precise as the grooves in a vinyl record. A solid financial system includes components like your accounting software, purchase approval process, receipt collection process, system for budget creation, and even your point-of-sale (POS) software. These are just a few examples; anything related to handling finances is part of your…
Read More5 Essential Steps to Prepare Your Company’s Finances for the Holidays
With the holidays right around the corner, initial visions of sugar plums dancing in your head have likely made way for long shopping lists and travel plans, and I bet your wallet’s already feeling it. Trees, decorations, presents, food, parties—it can all add up. But what about your small business’s finances? In the midst of…
Read More4 Easy Tips for Successful Small Business Accounting
As a small business owner, you likely wear many hats. In an average day, you may serve as a clerk, a customer service liaison, a marketer, an analyst, and even an accountant. With so much to do and so little time, it’s often hard to devote enough energy to any one task—and that includes managing…
Read More5 Useful Accounting Tips for Small Businesses
Unless an individual is an accountant or really enjoys working with numbers, then accounting is not a favorite task. Nonetheless, adopting certain good habits in the early stages of your small business can assist in averting major ones later on. After completing incorporation of your new small business, it is essential to have processes and…
Read MoreDon’t Ignore This 12-Step Program to Good Credit Management
Cash flow is the life blood of all businesses and having too much working capital tied up in late and non-paying customers can spell disaster for a new small business. According to a U.S. bank survey, the majority of small businesses fail within the first five years, and roughly 82% fail because of poor cash…
Read MoreWhat to Do if You Missed the Tax Deadline
So you missed your federal tax filing deadline. Maybe you had a good reason, a personal or family emergency for example. Or maybe you just plain forgot. Whatever the reason for failing to meet the deadline, you now have to deal with the consequences. Here’s what to do next and why there may be hope…
Read MoreTop 6 Mobile Accounting Apps for Small Business
If you’re a small business owner these days, chances are you’re always on the go. There’s no use waiting until you get back the office to manage your finances. Why not take your business with you? Even a few years ago, this would have been impossible, but thanks to the hundreds of mobile apps currently…
Read More3 Ways to Maximize Your Return
Let’s face it: business tax returns can be tricky. Whether you file a corporate return or you report pass-through business income on your personal return, you need to stay on top of a host of federal, state and local tax deadlines and statutes, all of which can change from year to year. With a little…
Read More5 Tax-Time Resources for Small Business Owners
When you own a company, you gain more insight into the tax process than you probably ever cared to. Not only are you responsible for paying taxes on your own income, depending on your business structure, you will be on the line for other forms of taxes as well. For example, self-employed sole proprietors will pay self-employment taxes,…
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