Velisa Bookkeeping Services, a dedicated and reliable Accounting and Tax firm, serving Maryland since 2017.
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
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?
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
Many small business owners make the mistake of relying solely on their business for their retirement, but there are better ways to secure a comfortable financial future while building a going concern. They include taking advantage of new tax laws, picking the right savings plans and even hiring your children. Keep reading for valuable information …
Continue reading 13 Personal Finance Tips for Any Small Business Owner
Of all the aspects of running a small business, accounting is one that is usually not well understood. With the wide range of options, tax regulations, and reporting standards, this area is its own field of expertise for a reason. Most small business owners hire bookkeepers and accountants (and rightly so) to manage this part …
Continue reading Accounting Basics For Small Business Owners
Tax season is approaching. But for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year. 2019 Tax Calendar Here are the most important tax dates for businesses to know in 2019. 1099 Mailing Deadline January 31 If your …
Continue reading 14 Important Dates for Small Businesses in the 2019 Tax Calendar
It’s that time of year again: Tax Time. Preparing your taxes may seem like an annoying task that distracts you from running your business, but filing an accurate return can reduce the risk of paying fees and penalties down the road. What you need to complete this task is a checklist, which you’ll find below. …
Continue reading Small Business Tax Preparation Checklist 2019
New tax rules are creating confusion Because of new laws many home related tax rules have changed and now require you to prove how funds are used to qualify for a deduction. This is catching many taxpayers by surprise. So when your mortgage company reports tax-related information to you and the IRS using Form 1098, …
The IRS on Friday posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A. Taxpayers who have QBI, qualified real estate investment trust (REIT) dividends, or qualified income from a publicly traded partnership (PTP) will use …
Continue reading Taxpayers will file QBI deduction computation with IRS next year
It's time to visit your books to make sure your business is adhering to newly implemented laws and regulations. The new year is a time for resolutions and fresh starts. It also represents the beginning of a new fiscal and tax year, meaning it’s time to visit your books to make sure you and any …
Continue reading 3 Crucial Small Business Payroll and HR Updates for 2019
Velisa Bookkeeping Services LLC 