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If you have an accountant, chances are good that they’re making life a lot easier – but chances are also good that you’re not making the most out of your relationship. For instance, you know to go to your accountant to, say, file your taxes or get help with things such as making financial statements. …
Continue reading 5 Discussions you should have with your Small Business accountant
Small business owners face a number of challenges every day, and accounting is a big one. Here's how to stay on top of your finances as an entrepreneur. As a small business owner,you need to wear several hats. Your tasks will range from marketing your brand to hiring the right people to maintaining relationships with …
Continue reading The Top Accounting Challenges Small Businesses Face
Everyone in business must keep records. Keeping good records is very important to your business. Good records will help you do the following: Monitor the progress of your business Prepare your financial statements Identify sources of your income Keep track of your deductible expenses Keep track of your basis in property Prepare your tax returns …
The form of business you operate determines what taxes you must pay and how you pay them. The following are the five general types of business taxes. Income Tax Estimated Taxes Self-Employment Tax Employment Taxes Excise Tax Income Tax All businesses except partnerships must file an annual income tax return. Partnerships file an information return. …
The financial health of your company is more than making sales. Staying on top of money management and keeping your business on solid financial footing is one of the most challenging and important aspects of business ownership. Ultimately, half of all small businesses fail within their first five years. Why? Different businesses succeed for different …
Continue reading 11 Financial Health Strategies for Business Owners
In order to successfully run a small business, you need to have a business plan in place and a business strategy to make sure your plan goes through. Getting past the difficult steps to get that strategy set up is what actually makes the real difference between your dream being just an ordinary dream and …
Continue reading Strategic Management Tasks for the Small Business Owner
Many Americans have the creativity and entrepreneurial spirit to start their own small business. These individuals often use their own resources as initial capital and may sacrifice personal finances in order to grow their companies. Financial experts applaud the drive and commitment of these small business owners, but warn that they must also consider their …
Continue reading 8 Financial Planning Tips for Small Business Owners
Challenges for growing small businesses There are good reasons for hiring an accountant at different stages of your company's growth. From a business plan to company formation, loan application to tax audit, an accountant can make life easier for you at each step. That doesn't mean you always need to employ an accountant full-time or …
