Managing inventory is a balancing act for retail businesses. The growing consumer demand for faster, freer shipping and, at times, pickup services can overwhelm you to the point where you’re too distracted to maintain your supply chain. Our bookkeeping firm lays the...
According to Public Law 115–97, American companies are liable to pay 21% corporate income tax (CIT). However, that’s just the rate before deductions. An effective corporate tax is what a company pays after subsidies and other loopholes. Keep reading today’s small...
When it comes to small businesses, every penny helps. Tax-effective strategies are essential for SMEs to increase their profit and reduce tax liabilities. This way, you will be able to save more money for investment. Fortunately for business owners in 2022, you can...
Whether they've just gotten started or established a franchise, business owners can face inevitable challenges and struggles. Bookkeeping is one of the critical aspects of owning a business, and inefficient bookkeeping practices can result in serious problems....
Forensic accounting has a specific purpose in a business firm. A forensic accountant helps analyze and study the business finance and data to ensure there are no mishaps that can cost the company a lot of money in the future. Their job is to maximize the profit for...
When starting a small business, the primary goal is to keep the business afloat while making ROI and some profit. To keep your business afloat, you need a team of people with specialized knowledge of accounting, tax, and prepping. Understanding your finances and...
No matter what products or services you’re selling to your clients, if your business lacks efficient cash flow management, you wouldn’t be able to keep the business operations running successfully for a long time. A company with less than perfect cash flow management...
Companies have stringent policies regarding accounts receivable. Despite these policies, many business firms in the US have up to 24 percent unpaid invoices. Pending payments can cause much damage, such as missed investment opportunities, disrupted hiring, delayed...
You never know when an audit of your business’s financials may occur. Therefore, companies should always be prepared for a potential audit of their business financials. Having your business financials audited can be stressful, particularly if you are not prepared for...
With the ever-evolving workplace and the increase in the capabilities of technology, it is becoming more common for employees to work full-time remotely and reside outside of the state in which their employer is located. Therefore, it is important for employers to...
As a business owner, you are likely very busy. With all the day-to-day responsibilities business owners face in managing and running their business, managing the business’s books can feel tedious and it can be tempting to put off bookkeeping responsibilities...
Tracking business expenses can be tedious. Without proper attention and strategy, small business owners can quickly fall behind in keeping their financial records up to date. Tracking your business expenses allows business owners to easily see the whole picture of...
