Velisa Bookkeeping Services, a dedicated and reliable Accounting and Tax firm, serving Maryland since 2017.
Accounting is an important component of business operations, regardless of the size of the company. However, smaller businesses often face unique accounting challenges that larger businesses may not encounter. Below are some of the most common accounting challenges small businesses can face. 1. Payroll. Payroll is a big job for businesses of all sizes. Every …
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There's no one set formula for determining a business's value. Speaking with a professional business appraiser or investment banker is the best way to get an accurate valuation. A calculated valuation doesn't mean much unless an investor or buyer agrees with your assessment. You should perform at least a basic valuation calculation on an annual …
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No one plans to lose their job. However, when a small business owner closes their doors because of retirement, relocation or poor sales, employees quickly become former employees. Unemployment insurance gives your employees some financial security while they look for a new job. There is a lot of confusion surrounding unemployment insurance, such as who …
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You’re humming along in your business, and suddenly — out of the blue — the unexpected happens. It could be in the form of a natural disaster that destroys your physical office or warehouse location, such as forest fires in California or hurricanes in the southern United States. In such an instance, you could lose …
Continue reading How to create a contingency plan for your small business in 5 steps
Dealing with taxes is a fact of life for small business owners. Annual expenditures for taxes for most owners are likely their largest outlay each year, exceeding rent or mortgage payments, marketing costs, and vehicle expenses (the only possible larger expenditure is payroll). Beyond payments to the government for all of the taxes you pay—income …
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For most small businesses, growth is a primary objective. And while achieving growth is wonderful, it often presents issues for companies that are unprepared to scale up. When these issues aren’t dealt with swiftly and effectively, the business will eventually crumble due to scaling mistakes. Managing the Chaos of GrowthGrowth is a topic entrepreneurs love …
Continue reading The 7 Biggest Mistakes You Can Make While Trying to Expand Your Small Business
What Is Bookkeeping? Bookkeeping is vital for all small and big sizes of businesses. For small businesses, the procedure of bookkeeping that is more and more significant. Without the correct knowledge of bookkeeping, a small business that can be quickly unsuccessful. However, the business can become even more fruitful if the whole things are going …
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A business entity exists under its documentation. Without the proper records, registration, licenses and other legal documents, a company is just an idea in the owner’s head. Having hard copy business documents registered in the right places make the business a real entity. And losing those documents, or access to them if they are saved …
Continue reading Attention: 13 Small Business Documents You Must Keep on Hard Copy
In the beginning stages of managing your startup, the nitty-gritty of finances might be the last thing you want to think about, but letting financial planning fall by the wayside is a troubling habit for new business owners. The pressures of success and profitability can weigh down a new business. But no matter your level …
Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges every business faces whether they are large or small. These include things like hiring the right people, building a brand and so on. However, there are some that are unique to small businesses, …
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