Opening A Small Business? Don't Fall For These Common Small Business Errors
As a first-time business owner, it is easy to get caught up in the idea that is driving your new business. However, make sure you don't get so caught up in the big idea that you forget about the little details. Here are the three most common errors that new small business owners tend to do when they don't take the time to really think out the financial side of their business.
Self-Employed? Avoid These 4 Common Tax Preparation Mistakes!
Are you filing your taxes as a self-employed individual for the first time this year? If so, then the task might seem a bit daunting. After all, as a self-employed worker, you'll be subject to self-employment taxes and will also be responsible for paying your state, Federal, and local taxes yourself (rather than relying on an employer to deduct them for you). Specifically, as you prepare your taxes, there are some common mistakes you'll want to avoid.
The Layman's Guide To Hiring A CPA
The world of accounting may seem cryptic and foreign to the average person, so it can be hard to know when exactly you need to hire a professional to help with finances. Here are a few answers to some common CPA questions to help guide you through the hiring process. What is a CPA? A certified public accountant is the highest standard of achievement within the accounting profession. A CPA will advise their clients on any number of financial issues ranging from tax filing to business investment to estate planning.
Tax Implications Of Concluding Transactions Using Virtual Money
In an article published last year, Bill Schuette, who currently serves as the Attorney General in the state of Michigan, advised his residents concerning the risks that are associated with the use of virtual money. Indeed, while it is the case with hard money, virtual money insurance doesn't exist. This means that if your virtual money gets stolen, you won't be able to submit a claim to the third-party through which you have purchased it and that was holding it for you.
2 Small Business Payroll Mistakes You Could Be Making
As a small business owner you probably feel like a jack of all trades. Not only do you have to come up with the processes and practices that keep your business functional, but you also have to implement and execute them. To add burden to your already heavy load, you also have to pay your employees. Particularly when it comes to payroll, trying to take on more than you are actually prepared to can lead to a number of mistakes.
Always On The Go? 5 Tips For Managing A Small Business On The Road
Running a small business usually requires a lot of actual running for the owner. Running to meetings, running around town and running equipment can leave precious little time for tasks like bookkeeping, organizing, documentation or tracking. How can an owner or manager who is constantly on the go make it easier to care for his business? Here are a few simple tips. Office in a Box No matter how technologically savvy you are—or aren't—creating an office in a box will help you stay organized and reduce your workload.
3 Ways To Train Your Employees When Implementing New Accounting Software
Hiring a certified public accountant (CPA) to handle your company's tax returns is a wise decision, but this still doesn't eliminate the need to track your financial transactions. During the year, you must have good bookkeeping procedures if you expect tax season to be a simple task, and you can do this by using accounting software. The trouble with this is training your current employees to use the software effectively and properly.
Three Tax Tips for Your New Online Selling Business
If you've joined the millions of people buying and selling goods online, it's important to understand the changes to your taxes that come with this new venture. And while it may not be fun to think about taxes early in the year, doing so can save you time and frustration later. Keeping Inventory If your small home business involves keeping any kind of inventory, you'll need to maintain some records of its value.
3 Reasons To Hire An Accountant To Prepare Your Taxes
During the past decade, it has become commonplace for people to prepare their own income tax returns. Not only can it be much cheaper to do your own taxes, it has also become easier with the help of various free, and legitimate, tax preparation programs online. However, there are times when you aren't better off doing your taxes on your own. Here are three reasons to hire an accountant to prepare your taxes.