When it comes to establishing and running a business, choosing the right business structure can significantly impact your tax liability. The tax implications associated with various business structures can be complex, but with the right knowledge, you can make informed…
Cash flow management involves monitoring cash inflow and outflow to ensure enough liquidity to cover expenses and meet financial obligations. Without enough cash flow, a business can’t pay its bills, make payroll, or invest in growth. In order for a…
The success of your business goes beyond offering a great product or service; it requires you to be on top of every aspect of your business, especially your finances. As a business owner, you might be responsible for managing your…
As an accounting firm, we see a lot of common accounting mistakes that small business owners make, especially when they are starting their operations. We do understand that accounting can be challenging and as a business owner you might lack…
Small business owners face several challenges while handling the operations of their businesses. These include inconsistent cash flow, poor budgeting, not being tax compliant, and not paying bills on time. Bad debt can therefore significantly affect the business’s financial stability. …
As a real estate investor, you know that selecting the right corporate entity is essential to minimize tax liabilities and protect your assets. However, it can be challenging to determine which business structure is best for your investment. Here are…
I get asked a lot about the differences between bookkeeping and accounting. The two are essential financial functions for every business. Many people use them interchangeably and may not know the distinction between them. Understanding the differences between bookkeeping and…
You may be a new business owner, or you possess some knowledge of accounting but have yet to enlist the services of a qualified professional to handle your tax returns. It is important to note that filing accurate and timely…
It’s tax season right now and at the end of the period, most of you will be asking why I have to pay taxes on my business, and yet I don’t see the profits. “I don’t see the money in…
At some point in your business, you probably will have to handle bookkeeping yourself, particularly when you just got started, or hire a bookkeeper to save on costs. You wouldn’t have too many transactions and would want to ensure that…
