Tag: SiliconHarborBusinessServices
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What is Sensible Investing?
Sensible investing is an approach to managing investments that prioritizes long-term growth, risk management, and financial stability. It typically involves several key principles: Diversification: Spreading investments across a variety of asset classes, such as stocks, bonds, real estate, and cash equivalents, helps reduce the impact of any single investment’s poor performance on the overall portfolio. […]
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Sensible Investing Benefits
Sensible investing offers several benefits, both in the short term and over the long haul: Risk Management: Sensible investing focuses on diversification, which spreads out risk across different assets, sectors, and geographical regions. This helps mitigate the impact of any single investment performing poorly. Consistent Returns: By avoiding speculative or overly volatile investments, sensible investing […]
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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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The importance of internal bookkeeping audits
Internal bookkeeping audits, often referred to as internal financial audits or financial statement audits, are a vital component of an organization’s financial management and reporting processes. These audits involve an independent and systematic examination of an organization’s financial records, transactions, and accounting practices. The importance of internal bookkeeping audits can be understood through the following […]
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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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Why Are Non Profit Agencies Tax Exempt
Nonprofit organizations, also known as tax-exempt organizations or 501(c)(3) organizations in the United States, enjoy tax-exempt status for several reasons, primarily because of the valuable services they provide to the community and the government’s recognition of their contributions to the public good. Here are some key reasons why nonprofit agencies are granted tax-exempt status: Promotion […]
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A Guide To Sending Out 1099s
Sending out 1099 forms is an important tax-related task for businesses in the United States. These forms are used to report payments made to non-employee service providers, independent contractors, and other individuals or entities. Here’s a business guide to sending out 1099s: Determine Who Needs a 1099: Identify all individuals or entities to whom your […]
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How the Right Software Can Benefit Your Business
Everyone wants to use the greatest software for their work. Whether you’re a chef or a web designer, well-made equipment makes your job easier and more enjoyable.But how do you pick the greatest software—and how do you define “best” in the first place? There are more email, CRM, and project management apps available than you […]