Tax Consideration When Starting a Business
Every business owner will agree that the sole purpose of starting any good business is to make a profit. But what happens when this business turns into a burden and incurs losses instead? This could happen if a business owner heads into a business without…
Is Your Company’s Accounting Process Optimized? How To Tell?
Many positions like the CFO and the accounting sector of a company is a less fun but extremely important aspect of running a business. It is a necessary evil that must be paid due attention to your organization to run smoothly and on the deficit…
5 Tax Deductible Purchases You Didn’t Know Of
There are two unquestionable certainties in this world, which are death and taxes. Benjamin Franklin rightly puts it that “…. but in this world, nothing can be certain except death and taxes.” Taxes are monetary tools levied on individuals and organizations. These levies aid the…
Tax Consideration for E-commerce Business Owners
E-commerce is a strong force to reckon with in 2020. Buying and selling has become seamless but can be quite complex for entrepreneurs because of the ever-changing online sales tax laws. It has been common among e-commerce business owners to feel overwhelmed due to complicated…
5 Expert Tips on How to Start A Business During A Pandemic
It is no longer news that the Coronavirus Pandemic has thrown the world into a state of confusion and so many businesses had to suffer along the line. However, while so many people lost their jobs and source of income, most people have seen the…
5 Things That Can Increase Your Business Expenses Overtime
We can all be entrepreneurs. Everyone can become a businessperson at any time that they choose to; that’s the kind of world we live in now. It’s amazing what opportunities we have these days compared to even two decades ago. But the thing is, to…
Occupational Fraud and How to Protect Yourself From It
Running a business demands a high level of trust between the employing organization and the employees. In some organizations, the staff has access to a wide range of valuables, and they will get tempted to steal. Be it inventory, cash deposits, or any bank info….
Important End of the Year Tax Strategies for Entrepreneurs
For entrepreneurs in all sectors, the end of the year attracts a few must-do tasks in which taxation is included. Your plan for the next business year should be drafted as well as the closure of your books. Most importantly, this period is when most…
When Do You Have To Cut Business Expenses?
Business expenses are some ordinary and necessary costs that businesses incur for them to function and operate fully. Many businesses need to adequately categorize their expenditures because the expenditures take various forms, such as rent, utilities, insurance, company car, equipment, equipment rental, and software. The…
5 Important Accounting Terms You Should Know as a Business Owner
As a business owner, your knowledge extends beyond the services or products you offer. There are more things you need to learn about. The reason is that some aspects of your business which you outsource require that you have enough knowledge of the processes involved….