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
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 …
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
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