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When running a small business, it can be all too easy—perhaps the only part that’s easy—to leave financial management under-tended or neglected outright, what with all conceivable energy and focus being required for day-to-day operations: customer service, team morale, sales…… Read More
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What is the Difference Between Bookkeeping and Accounting?
Accounting and bookkeeping are two terms often used interchangeably, despite being two fairly distinct functions that serve markedly different purposes in the financial world. To wit: while these two disciplines are certainly “related,” they differ widely in their specific professional… Read More
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Should Your Small Business Outsource Its Accounting?
Small business owners are constantly balancing any number of tasks and responsibilities, including—more often than not—a good share (if not all) of the accounting and bookkeeping. However, for most entrepreneurs, these are inordinately time-consuming, complex tasks, requiring a certain level… Read More
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A Handy Guide on the Depreciation of Fixed Assets
Depreciation of fixed assets is a crucial process that businesses undertake to gradually reduce the recorded cost of their fixed assets over time. Fixed assets such as buildings, furniture, and office equipment can be depreciated, with the exception of land…. Read More
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Why is QuickBooks the Best Bookkeeping Software for Small Businesses?
QuickBooks bookkeeping software is the ideal solution for small business owners who are looking to streamline their administrative tasks and improve their financial management. With QuickBooks bookkeeping software, small businesses can save time and reduce costs by automating tasks such… Read More
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Commonly Missed Tax Credits for Small Businesses
As a small business owner, it’s imperative to be fully aware of any tax credits available to help maximize your rightful savings. Alas, for mere lack of awareness, many miss out on valuable credits that would otherwise significantly reduce taxable… Read More
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What’s the Difference Between Amortization and Depreciation?
If a company acquires assets like company vehicles, corporate headquarters, or patents, these assets are expected to provide benefits to the company over an extended period rather than just in the period they are acquired. To reflect this expected value… Read More
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The 3 Types of Financial Statements For Small Businesses
For small business owners, keeping a close eye on the health of their business is the key to long-term success. Especially for first-time business owners who have decided to jump in head-first, it can be very difficult and overwhelming once… Read More
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What is a W-9 Form & How Do You File One?
It’s tax season, which means that you’re probably elbow-deep in thinking about all of the different terms, forms, and miscellaneous paperwork that goes along with it. It is often a hard time of year for many people since there is… Read More
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What is a Schedule SE (Form 1040) & How Do You File One?
Tax season isn’t quite over yet, but businesses and individuals both need to take the time to make sure taxes get filed as soon as possible. When it comes to taxes, the sooner you file them, the better it will… Read More