Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. As such, instead of promoting your accounting skills, always prioritize client-centric messaging throughout your website. Let’s go!

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Snyder

NOVEMBER 17, 2022

Accountancy firmly belongs to the financial sector but it also shares a lot of key features with the service industry. No one can be an expert in all those areas, that’s why finding a helpful blog for accountants is such a great idea. So let’s begin our journey to the land of accountancy! Accountants, bookkeepers, and CPA’s.

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Account accountant accounted bookkeeping 52

Ronika Khanna CPA,CA

SEPTEMBER 3, 2021

Others decided it made sense to use accounting software right at the outset of their businesses. In many cases, using a spreadsheet is perfectly fine and sufficient for small business or self employed individuals where you simply need a way to determine your income and expenses. Digital Download. Amazon Print Version.

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Snyder

JANUARY 16, 2023

Every business wants to make sure they‘re utilizing the resources and business processes they’ve implemented to the fullest. Whether it’s hiring employees, getting new accounting software , or relocating, business owners want to make sure that whatever they do contributes to more stability in profits.

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DuctTapeMarketing

JUNE 27, 2014

 Services Online Audit. Consulting Business. Small Business Finances. Can Accounting Reports Really Be Beautiful? Can Accounting Reports Really Be Beautiful? Oh, and they keep the accounting, payables, receivables, banking and tax folks happy too!). Strategy First. Website Review.

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CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. Unfortunately, there’s also a “critical talent shortage,” says Tom Hood, CPA, a vice president with the AICPA. ( [link] ).

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CPA Practice

NOVEMBER 29, 2023

Bookkeep Names Accounting Veteran Alison Ball as Vice President of Marketing and Communications Bookkeep, the leading accounting automation platform for ecommerce and retail, today announced the hiring of Alison Ball as Vice President of Marketing and Communications. The new Partners include: Robert J.

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Snyder

JUNE 20, 2022

However, delegating doesn’t mean staying out of the loop completely, especially when it comes to business finances, primarily accounting. Accounting is the language of numbers. It shows the most accurate picture of the current state of a business and its future. What is small business accounting?

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LyfeAccounting

APRIL 8, 2021

Now, we want to help you avoid an IRS audit! Although your chances of being audited in general are pretty low, there are certain IRS audit red flags that increase your odds dramatically. 8 IRS Audit Red Flags to Watch Out For. 8 IRS Audit Red Flags to Watch Out For. In 2019, the IRS audited 0.4%

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PYMNTS

JANUARY 9, 2019

One way this shift has materialized is in how small businesses seek and hire financial professionals to join their companies. In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers.

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PYMNTS

MARCH 15, 2019

Anxieties that automation will replace humans have waned in the accounting sector, as industry players begin to realize that technology can actually help accountants play a more important role for their small business (SMB) customers as advisors and guides, rather than replacing their roles outright.

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PYMNTS

SEPTEMBER 15, 2017

In a survey of more than 500 small and medium-sized business (SMBs) accountants and bookkeepers, business and financial software company Intuit found a few factors that frustrate the profession. Researchers said this can lead to higher costs from accountants and a higher risk of auditing come tax time.

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Accounting Seed

JULY 21, 2022

Target maximum revenue, growth, and profit with this in-depth startup accounting guide. If you fail to set up a robust and scalable accounting system from day one, your business will suffer from financial errors, poor planning, growing pains, and a high potential for failure. Challenges For Early-Stage Startups.

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Ronika Khanna CPA,CA

MARCH 24, 2022

You are required to enter the full amount of the expense e.g. total rent paid for the year and the percentage of your home that was used for business. It is, however, useful to have a schedule or spreadsheet where you show the details of your calculations in case of audit. Most tax software makes this fairly easy to enter.

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xendoo

MARCH 18, 2021

Accountant? Which one does your business need, or does it need all three of them? Staying on top of your business’s finances is key for a small business owner, but you may need more than day-to-day bookkeeping. CPA act as consultants on many issues, including taxes and accounting. Bookkeeper?

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LyfeAccounting

MARCH 10, 2021

CPA services are accounting services that are provided by a Certified Public Accountant, also known as a CPA. Most CPAs have Master’s Degrees in Business or Accounting with at least a few years of experience under a CPA. Compilations are basically financial statements that are prepared by an outside accountant.

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xendoo

FEBRUARY 15, 2022

The National Society of Accountants (NSA) reports that tax consultants typically charge between $176 and $457. You can expect to pay higher fees for accountants based in a larger city with a high cost of living. A tax consultant is trained in tax law and financial accounting. Is a Tax Advisor the Same as an Accountant?

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tax consultant Tax tax return business tax 103

Snyder

DECEMBER 21, 2022

What is a business budget? So, what does a business budget stand for? By definition, it’s an estimation of future business incomes and expenses based on the evaluation of the business finances over a certain past period. Usually, a business budget gets created annually. Then you sum up all the revenue.

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LyfeAccounting

FEBRUARY 14, 2021

A CPA is a Certified Public Accountant. And by the way, an accountant is someone who is responsible for recording and interpreting financial information. CPAs are in the top-tier of accountants. There is no higher designation in the finance or accounting industry than the CPA license. In one word – business.

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LyfeAccounting

JANUARY 12, 2021

?. Today, I will be giving you bookkeeping tips to help you better organize your companies’ finances. If you’re a new business owner or even if you already have a business up and running and want to improve the bookkeeping of your business, then this post is for you! 6 Bookkeeping Tips For Your Business.

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Steve Feinberg

MARCH 15, 2023

Bookkeeping is the cornerstone of accounting, and it simply means recording your company’s financial transactions into organized accounts for better reference and record keeping. It’s a crucial part of any business, but it’s especially important for cabinetry companies, independent contractors, construction firms, etc.,

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LyfeAccounting

OCTOBER 12, 2020

?. There is one thing in business that is constant and remains the same: The need for proper bookkeeping and accounting. According to Entrepreneur Magazine , 7 out of 10 businesses fail within 10 years due to their inability to control expenses. In business, even if you don’t make a dime, there are expenses that must be paid.

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LyfeAccounting

MAY 27, 2021

This would eliminate the tax penalties they added to your account. From there, they can look up your account and remove the additional fees. However, if you completely miss the deadline, the IRS will add more penalties and interest to your account. Provide the supporting documentation for just the items being audited.

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LyfeAccounting

OCTOBER 18, 2020

Bookkeeping is important because it allows you to take control of your business’ finances. Together, these statements take a snapshot of your business allowing you the ability to see how well your business performed. It Makes an IRS Audit Easier. Let me say this…I hope you never get audited by the IRS !

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LyfeAccounting

JANUARY 13, 2021

What I’ve learned over the years is that many business owners do not know what tax deductions are. And I get it – unless you got a CPA license and Master’s degree in accounting like I do, you’ll likely never learn this stuff. Necessary means that it is helpful and appropriate to run your business.

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LyfeAccounting

DECEMBER 1, 2020

You may be required to provide them in case you’re audited or applying for a business loan. After you have your EIN, you’ll then be able to open a business bank account. This is critical and necessary for keeping your personal finances separate from the business. Most lawyers can help you with this process.

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LyfeAccounting

FEBRUARY 9, 2021

As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received. Tax Benefits #3: Low Risk of Audit. Since 2010, S-Corp audits have dropped about 34%.

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LyfeAccounting

JANUARY 5, 2021

A tax professional like the team here at LYFE Accounting will be able to help you decide what is best for you. Not only for your own records but in case you were to get audited by the IRS. Lastly, if you do decide to itemize, be sure to keep up with donation records in case of an audit. Contact us today at 470-240-1437!

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LyfeAccounting

MAY 18, 2021

Well, this post will highlight some of the things that you should NOT do as a new business owner or business owner, in general. 7 Tax Mistakes Business Owners Make. Tax Mistake #1: Not having a separate bank account. It is so important to do this so you can clearly keep track of all of your business income and expenses.

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SingleTrackAccounting

DECEMBER 2, 2020

While we know having excess cash is not possible for all businesses, those that had backups were more likely to stay afloat. We cannot stress enough the importance of having a good accountant and bookkeeper to deliver financial reports for you to have a grasp on your cash flow. 4) Don’t get over your skis with your finances.

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LyfeAccounting

APRIL 27, 2021

Fast forward, a year later and the store during its annual audit or something realizes you mistakenly paid more for the computer than necessary and they decided to give you $500 back. Based on the average financing rate of a vehicle, which is 5%, you just paid $175 more in interest on your car payments. It’s sort of like this.

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LyfeAccounting

JUNE 22, 2021

Step 1: Operate out of a business bank account. This is business 101. You do not want to commingle your business funds with your personal funds. Furthermore, it can also complicate things if you get audited by the IRS. Step 2: Transfer money from your business bank account to your personal account.

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LyfeAccounting

AUGUST 10, 2021

Other than taking the standard deduction or itemized deduction, there is very little that the average taxpayer can do to lower their income taxes… …outside of contributing to a retirement account to defer taxes until a later date. And a necessary expense is one that is helpful or appropriate for your trade or business.

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LyfeAccounting

JUNE 30, 2021

The key here is moving away from personal credit and starting to develop your business credit. Business credit is very similar to personal credit. Business credit is the ability of a business to qualify for financing. Once you register your business and have an EIN, you can now open a business checking account.

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LyfeAccounting

OCTOBER 21, 2020

But you want to make sure you’re doing things right , so you can avoid an audit. When you’re starting and operating your business, you’re likely going to need some help. an accountant. This third deduction is also very important because it’s an expense most businesses have, which are bank fees. industry consultant.

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xendoo

APRIL 20, 2021

There are a lot of compelling reasons you need a bookkeeper, and for most small businesses, it’s generally more cost-effective to outsource the accounting and bookkeeping services to professionals like Xendoo that work with small businesses than trying to do it in-house. Choose an Accounting Method.

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LyfeAccounting

SEPTEMBER 15, 2020

I will tell you the business reasons in determining how to pay yourself. I will also tell you some of the tax implications you need to consider so you can avoid those painful IRS audits. I’m going to show you how I pay myself in my own business, and what you need to consider. What is an Owner’s Draw?

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