It is no easy feat to run a small business, especially when you are just starting out. As a new entrepreneur, accounting-related tasks are some of the most complicated tasks that you will encounter, particularly when you consider the simple fact that mistakes will cost you a lot of time and money. Below you will learn about three of the most common errors that are made related to small business accounting and how you can avoid them.
6 January 2019
Some employers, instead of offering a 401(k) or 403(b), offer their employee pension plans. Pension plans are often offered through the state government, jobs that are supported by unions, and jobs through larger companies, although companies of all sizes can offer pension plans. If your employer offers a pension plan, you need to understand how it works and how it fits into your overall retirement plan. #1. You Make Direct Contributions
1 November 2018
If you're in the position to give a large gift to someone in your life, make sure that it doesn't cost you or them anything extra when tax time comes. How can you do that? Here are five ways to avoid tax complications. 1. Use the Tax Exclusion. The first thing to understand when planning a large monetary gift is the gift tax. Generally, if you give a financially valuable gift to an individual — no matter whether it's cash, assets, stocks, property, or even the value of goodwill — you may have to pay tax on the gift.
7 August 2018
CBD oil has been shown to provide many incredible health benefits to those who take it. As a result, it has been legalized by just about every state in the union. However, there are still some legal complications that could make it difficult for new merchants like you to process their payments. Thankfully, a CBD merchant account can help improve the process and get you quick access to your money. Payments Can Be Hard When Selling CBD Oil
24 May 2018
There are many people who run small businesses. These businesses can be on the side of what they are already doing at a regular job, or they can be their main source of income. Regardless of the size of your small business, it is very important that you make sure you are keeping good records for tax season. Here are some things that you should know. 1. Keep Track Of All Expenses
16 January 2018
When it comes to owning and operating a small business, you will likely encounter many challenges along the way as you attempt to grow your organization. Without proper accounting, your company will have a greater chance of falling on hard times financially. While there are several accounting options available to small business owners on the market today, few can provide the versatility of online accounting software programs. Here are three reasons why you should consider moving your company's accounting activities online in the future.
18 January 2017
Expansion is the most dangerous time for a small business owners. But it's also necessary to transition a small business into a larger business. When expanding, all aspects need to be carefully considered -- and that all comes down to the accounting. Here are some of the most common accounting issues that could hold a business back. Not Conducting a Thorough Risk Assessment Risk assessments go over the potential issues of expansion so the business can appropriately counter them.
28 December 2016