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, […]
Accounting 101: Everything you need to know
Trust us when we say this, accounting can be the least fun part of running a small business. Most small business owners usually find themselves in the whirlwind of being understaffed and in most cases underfunded as well. This means that in most cases they really have to look at several departments of the business […]
Top Tax Tips for Small Business Owners
Oh my god, I have to pay this much tax for my business?” No small business owner said in joy and excitement. They are always looking for ways to minimize their tax liability, which means evaluating the company’s current financial performance and changing the tax strategy accordingly. This will help the owners take advantage of […]
What Is a DBA, and Does Your Small Business Need One?
When starting a new business, you must have done your market research, done some brand work and come up with a really cool name. But, this process needs some legal side of decision-making because you might not be familiar with the legal terminologies that get thrown around. We might throw just one terminology here which […]
