Understanding Depreciation and Its Effect on Your Business Taxes
Most likely, a small business owner will make use of all possible tax breaks. Still, did you know that you may enjoy a deduction on account of the loss of value in your assets, and it passes most people by? The word “depreciation” sounds bad. In short, the word means that something you have gradually […]
Outsourcing vs. In-House Accounting: Which Is Right for You?
Small and medium-sized businesses are often faced with the choice of bookkeeping and accounting, which come along with growth. “Should we hire a controller or do it ourselves?” Another option often not explored often is outsourced accounting services. It was not common ten years ago to outsource accounting, but today, small businesses are increasingly using […]
Top Accounting Certifications to Enhance Your Career
“An investment in knowledge pays the best interest.” – Benjamin Franklin If you are considering a career in finance or accounting, you might be thinking about accounting certificates. But it’s important to ask this question, do they pay off, and most importantly how do they relate to your career objectives?While not necessarily a requirement, certificates […]
Business Mileage Deduction 101
Going far to meet clients and vendors can be a lot of work, and the car miles add up fast as does the cost. When you see the empty tank in your car, the frustration starts to fill in your head. But, there’s some good news here; you can deduct car mileage for tax purposes […]
How’s Your Small Business General Ledger Lookin’?
A General Ledger is an account of the entire financial accounting of a company. The definition of general ledger extends beyond recordkeeping. Since many accounts are indicated in a GL, each account has its independent significance. What is normally captured in the accounts of the general ledger comprises: The essential components required for efficient financial […]
Effective Ways for Creating Monthly Financial Reports
It’s the year’s end, it should be a holly jolly time for every employee but take a look at your financial team now. An aura of tension must be lingering in their minds and you can see a mirage of hands running through different documents. You must be wondering “What are they doing?” Ah yes, […]
