Are you considering buying an existing business and merging it with your own? Mergers and acquisitions are some of the most complex business transactions any owner can undertake. They have many moving parts and require diligent supervision and planning. One area of planning that's essential is that of business financial planning. Here are a few key reasons. 1. You'll Have Upfront Purchase Costs The cost of buying or merging with a business may be a little (if the other business isn't doing well, for instance) or it may be significant.
29 September 2020
Has your accountant talked about capital assets yet? Many business owners own important capital assets but may not fully understand how these affect the business's finances. To help you maximize the utilization of your capital asses and minimize expenses, here are a few key things to know about this concept. What Is a Capital Asset? A business has many different types of assets, which are generally divided into two categories: capital and ordinary.
9 July 2020
Does your business operate by taking on long-term contracts? If so, among the many other business challenges you face, you must also decide how to recognize and report the income and expenses related to these contracts. What are your options? And how can you decide between them? To help you get started, here is a brief guide to the most common means of accounting for long-term contracts. 1. Completed Contract Method
27 November 2019
As a business owner, you must deal with some income tax concepts that most Americans don't have. One of these is capital gains. Capital gains can greatly affect your income tax bill, both positively and negatively. And they are one way to boost your company's bottom line. How? Here is a short guide to business capital gains. What are Capital Gains and Losses? Capital gains are the profits a business makes off the sale of an asset or investment.
5 September 2019
QuickBooks is an accounting software on the market that is ideal for businesses and individuals alike. Despite the popularity of QuickBooks, its utility is often overlooked. There are lots of tricks for saving time when using this popular book. #1 Add Attachments to Records You can easily add attachments to records. This can make it easier to keep track of things. You can add attachments when you send out notes to vendors.
7 May 2019
When you first start out in business, you might be your biller, human resource professional, and accountant all in one. While this can work for a short period of time, this is not going to allow you the time you need to grow your business. If you are working hard to expand the services you provide, and you find yourself working too many hours a week, it's time to see how you can outsource some of the work you do.
27 February 2019
As a business owner, you want to make sure that all of your finances are in order, and that can be done with the help of certified public accountants. If you have never hired a CPA, you may want to learn some information regarding how their services can really benefit you as a business owner. To get some insight on this, you will want to review the following information. They Have Expertise In Tax Law
14 November 2018
A successful company is one whose value increases with time. There are many different factors that can influence the overall value of a company. Some of these factors are outside of your control, but many of them can be controlled with time and effort. Bookkeeping plays a critical role in boosting your company's value. Accurate financial records can help investors see the value of your company by providing an overview of the company's financial health and history.
3 September 2018
When you think of accountants and accounting services, there is a pretty good chance you picture someone in a suit with thick glasses and a calculator, crunching numbers and writing checks. While that is a bit of a stereotype, accountants do provide billing and payment services and help you keep track of your business accounts. However, they do a lot more than just crunch numbers and write checks. In fact, as both an individual and as a new small business owner, you may find the following accounting services quite helpful.
20 June 2018
While no one likes to think about what will happen after they're no longer around, devoting some time to hiring a tax service and an attorney and devoting some time to planning out these details is a vitally important task. If you don't take the time to plan out your affairs on paper before you become ill or pass away suddenly, there's no guarantee that these issues will be handled in the way that you would prefer.
26 January 2018