Starting a small business in the 21st century is common as the appeal for a more individual lifestyle rises. There are several mistakes new business owners can make, here are a few of them and how to avoid them. 1. Having Poor Cash Flow. Uneven, unstable, or nonexistent cash flow is the #1 killer of a [...]
When you’re working in the business world, it is imperative that you are able to manage and access your data at all times. Cloud accounting makes that possible. Without cloud accounting, your data can only be accessed from one point: where you saved it. With cloud accounting, you can access your data from anywhere [...]
In a previous post, we discussed who gets a 1099, and now you need to know how to fill out a 1099. Documents like this can be intimidating at first glance, but when you break them down it is quite simple. Here is our guide, box by box, of how to fill out a [...]
Outsourced Accounting Many small businesses choose to operate their accounting services on their own rather than hiring an outsourced accountant. What they don’t know is outsourcing these services might be the very thing that pushes their business to the next level. Having an in-house accounting department is not something many businesses can afford to [...]
If you are thinking of acquiring another company, there are quite a few factors that you must consider in your decision making. The best way to consider all factors and elements of your business is by conducting due diligence. This is your way of finding out the health of the company; is it really [...]
The mixing of personal and business finances is especially common in the beginning stages of business. It is something that you should work to separate as soon as possible. Mixing personal and business finances is dangerous. This makes it hard to see what your cash flow in the business is, [...]
The world has become more and more digital, which has made cryptocurrencies all of the rage. Cryptocurrencies are generally utilized for transactions by techies and have a comparable value in real currency or replace real currency. These virtual currencies can be purchased with or exchanged into U.S. dollars, euros, and other real or virtual [...]
The new tax law has changed many things about our lives, and medical deductions is one of them. The new law’s final version kept the itemized deduction for medical expenses, and it lowered the adjusted gross income (AGI) limitation from 10% to 7.5% for 2017 and 2018. Here is where it gets a little [...]
Have you ever been left with money at the end of the month, quarter, or year, and wondered what to do with it? Certainly putting it away for a rainy day is a great use of the money, but if your rainy day fund is already plump and you want to find a good way [...]
“Don’t fear failure, fear being in the exact same place next year as you are today” (Unknown) This is a quote that really encapsulates everything we want to remember throughout the entire year. We are a firm that focuses on growth in ourselves, and especially in our clients. We know from experience that it isn’t [...]