Tag: Business Owner
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Reminder- Filing Due Dates
Reminder that 941 Quarter 4 forms are due today, January 31, 2024. Form 1099 MISC recipient copy deadline is January 31. If you are filing through paper forms, the due date is February 28. The electronic filing due date is March 31 for the 2023 tax year. January 31, 2024 is the deadline to file […]
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What are some of the reasons for a business to go bankrupt?
Business bankruptcy can occur for various reasons, and it’s essential to understand the underlying causes to prevent financial distress and bankruptcy. Some common reasons for a business to go bankrupt include: Poor Financial Management: Inadequate financial planning, budgeting, and cash flow management can lead to financial instability. Failing to monitor expenses, revenue, and profit margins […]
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What is year-end close bookkeeping?
Year-end close bookkeeping, also known as year-end closing or year-end accounting, refers to the process of finalizing a company’s financial records and preparing them for the end of the fiscal year. This process is critical for accurate financial reporting and tax compliance. Here are the key steps involved in year-end close bookkeeping: Review Transactions: Begin […]
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Who really needs to work with a bookkeper?
Who really needs to work with a bookkeeper? Most businesses could benefit from working with a bookkeeper. Here are a list of who really needs one: Anyone who doesn’t have the time or knowledge to keep their books up-to-date or at least a monthly basis. Any small business owner who wants to make sure they […]
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Job order costing vs process costing
Job order costing and process costing are two distinct methods used in accounting and cost management to allocate costs to products or services. They are particularly relevant in industries where products or services are produced or customized in different ways. Here’s a comparison of job order costing and process costing: Job Order Costing: Nature of […]
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Benefits of a home based business
What is it like when you start operating your business at home? It may just give you a whole new perspective on how to used to view it previously. For one, you may notice that you have a lot more time to work with and you may just even discover new opportunities as you explore […]
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Small Business Tips: How to spend your Money Wisely
Where should your money go when you operate your business? There’s a lot of things for you to consider to keep things running smoothly. As you start earning more money, you need to look into the things that you need to invest on to keep up to date with demands. Managing your business’ finances can […]
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Level up your Small Business
Starting a business is great! It’s fun, exciting, and can be very promising. Just like any new venture, the thrill can be addicting. All startups begin this way but only those that persevere can keep it going. Let’s say you’re startup has been going for a while now and you’re seeing some pretty good results […]
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Reasons to support your local business
COVID-19 has affected small businesses the most and others had to make the tough and heartbreaking decision to close shop. Bigger companies can take the financial strain that has been brought about by the pandemic but the smaller guys and startups are greatly suffering. Everyone is gradually returning to normal life—albeit with some caution—and small […]
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Useful Small Business Tax Tips and Tricks
It’s wonderful when you start to manage your own small business. You play the biggest role whenever business decisions are made and you have the chance to explore and expand your network. However, it’s not all sunshine and daisies. Avoid the headache by taking advantage of some simple and useful small business tax tips that […]