Accounting services not only save valuable time, freeing you to do the tasks that you find most rewarding, but they also allow you access to a professional who can find and fix financial problems before they get out of hand.
In particular, CFO services are especially useful because they provide timely insight so that companies can make positive changes. This is not to say that a CFO can completely save a dying business. Or that you can’t succeed without one. But, what we are saying is that your business can be more successful and profitable if you have a better strategy for spending and saving your resources.
Let’s take a look at the benefits of CFO services and the guidelines for choosing a partner.Continue Reading
In today’s digital economy, the ability to run your business from the palm of your hand is becoming a necessity. This may include posting to your business social media accounts, accessing your marketing tools and customer relationship management platform. Being able to access your books from any device and any location should also rank high on the list.Continue Reading
A typical small business owner is deeply involved in the day-to-day operations of their company. They are concerned with things like customer service, innovation, new client acquisition, hiring, conserving resources and making money to keep the doors open. Not surprisingly, when tax season rolls around, it throws a wrench in their entire workflow.
Annual tax time is almost here. And if you’re an e-Commerce business you’ve already got a number of legal considerations on your plate. Things like:
- What payment gateways should I use?
- How should I handle trademarks, patents and copyrights?
- Are there any shipping restrictions to get products to my customers?
- What are the lease requirements for holding inventory in my building?
When people think about New Year resolutions, “tidying up the books” may not be the first thing that comes to mind. However, if you want to take your small business to new heights this year and beyond, this is exactly where you should start. More specifically, ensuring that your Chart of Accounts is well-organized should be a priority for any small business that wants to stay financially healthy throughout the year.
It goes without saying that your accountant should have a keen understanding of who pays you, who you pay and how to maximize your returns on investments. Because your accountant is so intimately involved in assisting with your financial decision-making needs, the relationship should be one that is built on a foundation of trust and transparency. However, sometimes when that level of comfort no longer exists, it may be time to move on.
The relationship with your accountant is one of the most important for business success. He or she is the person you rely on to help you make informed decisions that can change the direction of your business. But what happens when you lose confidence in your accountant? Maybe they are no longer as responsive to your questions or they are distracted with other clients.
Choosing equipment for your small business can be equal parts exciting and stressful.
Apart from selecting the right type of equipment, there are many considerations to make when choosing between leasing and buying equipment that affect your small business accounting needs. These include upfront costs, maintenance costs and of course, tax implications.Continue Reading
Federal income taxes are inevitable for most businesses. However, nonprofit organizations -- those that exist primarily to improve society and provide specific services to the public, can apply to the IRS for tax exempt status using the steps outlined in this post.
Once you establish your organization as tax exempt, you may need then the help of outsourced accounting services in order to meet regulatory reporting requirements.
There are many “hidden costs” when it comes to starting your own business. Preparing and filing self-employment taxes as well as collecting sales taxes happen to be two of them. However, they are a necessary part of doing business.