Tag: QuickBooks Pro
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All About Owners Equity
Owner’s equity, also known as shareholders’ equity or stockholders’ equity in the context of corporations, represents the residual interest in the assets of a business entity after deducting liabilities. It’s essentially the owner’s or shareholders’ claim on the company’s assets. Owner’s equity is a crucial concept in accounting and finance, as it reflects the net […]
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What are some common bookkeeping mistakes to avoid?
Bookkeeping mistakes can lead to inaccurate financial records, financial mismanagement, and potential legal issues. Here are some common bookkeeping mistakes to avoid: 1. Not Keeping Detailed Records: Failing to maintain detailed and organized records can lead to errors and difficulty in tracking financial transactions. 2. Mixing Personal and Business Finances: Keep personal and business finances […]
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Common Errors in Tax Preparation
Mistakes can happen when you’re preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep a list of common errors that can happen when making your report. •Assuming the wrong due date•Confusion over the most advantageous filing status•Not claiming the Earned Income Tax Credit•Failing […]
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Reasons Why Your Business Needs an Accountant
Do you ever think your business needs an accountant? There is a high percentage of small business owners shutting down after just a year of operation and most of the time it is due to making wrong financial decisions. Most small business owners don’t hire an accountant so they take on all the financial responsibility […]
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Basic Steps When Starting a Business
Where should you begin when starting a business? Each person’s ideal timeline for launching a new business is different. First and foremost, you should start a business when you have enough free time to dedicate to it. You’ll need to be resourceful with funds once you’ve started your business idea and are ready to start working […]
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Guide to Tax Returns for Small Business Owners
Tax season may come as a challenge if you’re a small business owner and most will find it to be such a headache. If this is your first tax season, you will need to check out this guide to tax returns. Prepare your documents to be filed accurately and in a timely manner so that […]
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Payroll Guide for Small Business Owners
Payroll is the business process of paying employees. Running payroll consists of calculating employee earnings and factoring out federal and state payroll taxes. As a small business owner with employees, you need to know how to do payroll. This payroll guidewill make sure that you’re paying wages properly and stay in line with US tax […]
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Invoicing Mistakes to Avoid
Keeping a record of your sales is important especially when it’s time to make your financial reports. Staying up to date and organized with your invoices will show you how your business is growing and can even strengthen the relationship you have with your clients. When you run a business, there are mistakes to avoid […]
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Starting a business in 17 steps
Taking on that daring leap from an idea to starting a business takes courage and determination. It’s a big risk and can certainly be overwhelming but the fruit of your labor will be the sweetest when you have a taste. Every business owner knows that in order to make it out there, they would need […]
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Helpful tips when launching your own business
Got plans to start something new? You’ll need to check out these helpful tips when launching your own business. It’s essential that you plan out your business before you even start it. Make sure all the documents and your offer will be something that stands out. Opportunities arise at many occasions and grasping that opportunity […]