Velisa Bookkeeping Services, a dedicated and reliable Accounting and Tax firm, serving Maryland since 2017.
Small business owners often fill multiple roles, but wearing too many hats can cause your business to suffer–especially when your bookkeeping does not get the attention it requires. Instead of trying to do everything yourself, it may be better and more cost effective to outsource your accounting needs to a professional. 11 Reasons to Hire …
Continue reading 11 Reasons to Hire a Professional for Your Small Business Bookkeeping Needs
What Does a Bookkeeper Do? Bookkeepers ensure that all of a company’s expenses, income, and transactions are recorded in the company’s books and reconcile the company’s financial accounts, typically on a monthly basis. Bookkeepers might also help with financial statement and financial report preparation. Although bookkeeping can be in-house staff position, most businesses employ bookkeepers …
Continue reading What Does a Bookkeeper Do, and How Can They Help My Business?
Remember the days when you kept your head down, worked hard, and hoped for the financial best? With “best” being defined as a meager 2-4% annual raise, which wasn’t even guaranteed, and if you were lucky enough to receive a raise, the majority of it would be swallowed by taxes. If your employer didn’t come …
Continue reading What to Do When Employees Ask for a Raise…But Don’t Deserve One
One reason some small businesses fail is that new entrepreneurs can get so excited about the creative side of the enterprise that they neglect some of the basics of setting up and running a business. If you started your small business basically by the seat of your pants, it’s time to make it official. Here …
Continue reading 6 Steps to Run Your Small Business Like a Big Business
While there can be many different challenges when starting and managing a small business, money concerns top the list for most small business owners. There are many ways you can give your business a financial overhaul by modifying your operations processes, but there are also some easy things you can do in the day-to-day management …
Continue reading 5 Everyday Money Management Tips for Small Business Owners
Managing income and expenses accurately is an important aspect of running a business successfully. Unfortunately, many small businesses make mistakes in their books, without even realizing the impact those mistakes can have on their long-term viability. No system is foolproof, but whether you’re running your books through an accounting system like QuickBooks Online or Xero, …
Continue reading How to Avoid the 5 Most Common Small Business Accounting Mistakes
Business owners know that most of their expenses are deductible. But it might surprise you to learn how many leave money on the table by not claiming all allowable write-offs. Overlooked Business Deductions Here are the most commonly overlooked deductions. Carryovers Your tax activities in prior years sometimes yield deductions in the present. So check …
Continue reading Take Advantage of Overlooked Business Deductions
You may have a great CPA, but if you wait to talk to him until your tax year is over, there's little he can do to lower your tax bill. To reduce your taxes, take these steps before the end of the year. Pay All Outstanding Payables If you use the cash-basis accounting method and …
Continue reading 8 Tax Reduction Steps to Take Before the End of the Year
As small business owners, we’re resourceful and take pride in doing things ourselves. This resourcefulness is helpful when we start our business as we can minimize costs and run a tight ship. But as our business grows, so to do our responsibilities. With so many tasks and limited time in the day, A DIY approach …
Continue reading 9 Signs Your Business Needs Bookkeeping Services
Is your business leaking profit, but not sure how or where? Fix these four bad business habits or plug those costly leaks. Unbeknownst to even the savviest of small- and medium-sized business (SMB) owners and operators, some common and seemingly insignificant business habits can creep into day-to-day work. All told, these bad habits can seriously …
Continue reading 4 Bad Business Habits That Could Be Costing You Time and Money
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