Running a successful business requires taking on a multitude of responsibilities. But with all your other high-level tasks you have to handle as a business owner, you can’t be expected to do it all on your own. Many businesses choose to outsource certain responsibilities to both lift the burden off of themselves and to make.
For small businesses, bookkeeping is an essential part of the tax planning process. Bookkeeping involves keeping track of your company’s financial transactions on a regular basis. With an organized log of all business expenses, you’ll be able to make accurate financial decisions and tax preparations. Key Takeaways: Bookkeeping and accounting are technically two separate services–but.
Adjustments to federal tax brackets, deductions, credits, and more are not new—they happen every year. This year’s changes are small and are largely related to inflation, but regardless it’s important to be informed about them so you can make any necessary adjustments for next year’s taxes. Let’s take a look at the 2021 tax changes.
With the end of December around the corner, that means that, for most businesses, it’s time to close out the year’s books to get ready for the new year and 2020 tax season. Whether you do this yourself or have your accountant take care of it, it’s important to understand the basics of closing out.
Can you believe 2020 is almost over? The end of the year means it’s time to prepare for the upcoming tax season. With economic shifts due to the COVID-19 pandemic and tax changes related to COVID-19 stimulus packages, it is especially important to be well-prepared for your taxes this year. Let’s go over a few.
School looks a lot different for all of us this year. Whether you are sending your children to public or private school, doing in-class, hybrid, or distance learning, tackling homeschooling, or some combination of these options, most of us are in uncharted territory. Because of this, we thought it would be a good idea to.