xendoo

DECEMBER 3, 2021

The end of the year is a hectic time for small business owners. Between catching their breath after tax season and managing holiday traffic and sales, year-end bookkeeping and accounting tasks understandably fall to the bottom of the to-do list. . Account for Inventory. Get Your Books Caught Up. Ring In Success.

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xendoo

JANUARY 31, 2022

The best accounting practice is to keep personal and business finances under separate accounts, in order to save time and avoid confusion while filing taxes. Consider creating distinct profiles for your business under the payment apps you use. Tax Compliance Done for You . They will provide: .

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xendoo

JANUARY 6, 2022

By keeping your books up-to-date, you can be confident that you are reporting your income and expenses correctly, paying the proper amount in taxes, and paying your estimated taxes in a timely manner, which produces a stress-free tax season. Pay Self-Employment Tax. Pay Quarterly Estimated Taxes .

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xendoo

NOVEMBER 22, 2021

Every partnership owner faces the unique challenges of self-payment, tax filing, and maximizing their tax savings. Although they would rather focus on growing their business, taxes and payroll often take up too much of their valuable time. . Discuss your options with an online partnership accountant at Xendoo.

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xendoo

DECEMBER 6, 2021

Analyze your business’s performance from the previous year by reviewing your key financial statements. The Balance Sheet summarizes a business’s assets, liabilities, and equity at a specific point in time. Up-to-date bookkeeping allows for tax-readiness throughout the year. It is time to crush your business resolutions!

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xendoo

AUGUST 24, 2021

Once you decide on an amount to take (more on that in a moment), it can be transferred from your business bank account to your personal account. Because the Owner’s Draw is taken from ownership equity, it reduces the funds that can be used for the business. Once your DBA is set up, you can open a business bank account.

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xendoo

DECEMBER 15, 2021

The Opening Balance is the amount of money in your bank account at the beginning of a new financial period, such as the start of the month. Be aware that your bank account does not necessarily reflect the exact amount of cash that is available to spend. Financial Accuracy Through Bank Account Reconciliation .

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