Do Your Employee Reimbursements Comply with IRS Tax Regulations?
When it comes to employee reimbursements, you must be careful that they comply with current tax law and IRS tax regulations. If not documented and posted correctly, expense reimbursements may get confused for income, which can create a mess. Furthermore, when your...
Income Statement and Balance Sheet: Integral to a Successful Business
If you want your company to succeed, you must maintain detailed financial records related to the operating of your business. Gaining a grasp on the more complicated aspects of accounting can help you garner a better understanding of your company’s finances,...
Why a Cash Flow Analysis is Crucial for Your Small Business
Cash Flow essentially determines the health and solvency of your business. Poor management of cash flow is to blame for the downfall of over 80% of all businesses, according to one study. Cash flow is how money comes in and goes out of your business, and it is...
Tracking your Finances? Try QuickBooks
If you own a small business, you know the importance of tracking your finances and expenditures. This provides a clear view of your cash flow, while also increasing your ability to make efficient and cost-effective business decisions. One way to do this is with QuickBooks; QuickBooks is the most common accounting software program among small businesses for several reasons.
Consider these Key Factors to Develop a Sound Business Succession Plan
What will happen to your company when you retire? Business Succession is something that many business owners don’t consider until it is too late, making selling the company the only viable option. If you want to preserve the legacy of your company or if you have other invested parties to consider, a business succession plan is not just smart but imperative.