xendoo

MARCH 16, 2022

As you try to figure out which need to prioritize in your new venture, it is crucial that you first learn how to set up accounting for a new business. While it might seem mundane, good accounting is integral to the success of any business. However, we know that money can be tight for new business owners. .

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LyfeAccounting

NOVEMBER 13, 2020

Regardless of what happens to that 20 dollars next, these transactions have started bookkeeping and accounting processes. But a lot of people are still confused when it comes to bookkeeping vs accounting. At LYFE Accounting, we’ve helped companies with their bookkeeping and accounting processes. Why do I need them?

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PYMNTS

MARCH 19, 2018

Tax reform is likely to lead small businesses (SMBs) in the U.S. to pay more for accounting services, according to new analysis from the Senate. Reports in Accounting Today said Senator Ron Wyden (D-Ore.), ranking Democrat on the Senate Finance Committee, released a report on the impact of tax reform on small businesses.

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xendoo

MARCH 26, 2021

Bookkeepers handle a wide range of duties, including recording financial transactions, maintaining accurate records, and balancing the books of a business. Bookkeepers can manage accounts receivable and accounts payable for small businesses – they can create and send invoices, accept payments, and so much more.

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PYMNTS

JUNE 27, 2019

When small business (SMB) investment marketplace MainVest announced a $3 million Seed funding round last week, it did something that many Main Street SMBs cannot do. The legislation enables businesses to raise up to $1 billion a year through qualified funding portals.

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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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Snyder

DECEMBER 30, 2022

Many questions arise about restaurant accounting services, such as what is the difference between restaurant bookkeeping and accounting ? as well as account for damages which occur from time to time. Automating the routine: restaurant accounting software. Restaurant bookkeeping tips: Accounting methods.

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LyfeAccounting

OCTOBER 14, 2020

You see, here at LYFE Accounting, we handle the books for small business owners everyday and have a time-tested 6-step process that helps small businesses make better financial decisions that lead to greater profitability. Have you ever thought about expanding your business? That’s a mouthful! Liabilities.

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Steve Feinberg

NOVEMBER 30, 2022

Instead, try some of these strategies to keep your finances in order and help your business thrive. Why Is Bookkeeping for Remodeling Businesses Different? When it comes to the remodeling business, though, things start to get complicated.

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PYMNTS

OCTOBER 1, 2018

For example, alternative finance in the U.K. SMBs are too unfamiliar with alternative finance to turn to online players. In Mexico, small business lending is muted across the board. Explore some of the latest stats behind small business financing below. Peer-to-Peer Finance Association (P2PFA).

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LyfeAccounting

JUNE 17, 2021

Do not have a main home in the United States for more than half the year and, if you are married, your spouse does not have a main home in the United States for more than half the year; or. Bank account information (if you have one). You just want to start creating an accounting and putting in all your information.

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LyfeAccounting

JANUARY 30, 2021

Regardless of where you are our team at, LYFE Accounting specializes in business tax returns and we’re ready to help you this year. The next date/deadline is like our own recommendation that we made up to help businesses prepare. The main thing you need to have is your bookkeeping done. Business travel expenses.

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LyfeAccounting

DECEMBER 1, 2020

S-corps and C-corps are the two main types of corporations. 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. Now assuming you already have a business such as an LLC and want to incorporate.

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LyfeAccounting

JUNE 1, 2021

List of Small Business Grants: 2 Main Types. The first thing to know is that there are two main types of grants – government grants and private grants. It has raised over 20 million dollars so far and is an ongoing crowdfund to help businesses in need that apply. Nav’s “Legitify Your Small Business” Grant.

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LyfeAccounting

JUNE 22, 2021

Normally the deadline for filing a business return is March 15th, and personal deadlines are April 15th. Generally, the main taxes are Federal income taxes, State taxes, and the big-ugly-fat 15.3% Step 1: Operate out of a business bank account. This is business 101. self-employment tax on your income.

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PYMNTS

JULY 1, 2016

For weeks the FinTech industry has been managing fears and anxieties over the future of the novel alternative finance space. Was the finserv space exaggerating threats to alternative finance? Five Star Business Finance. SME Accounting. Alternative Lending. Lendingkart. alternative lending space this week, too.

accounting and finance 40

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LyfeAccounting

JULY 6, 2021

The good news is that most businesses that are bought are acquired using some form of financing. You can do this either through debt financing using a bank business loan or seller financing where you and the seller come to an agreement on payment terms. Consider if you want to buy a business or open a franchise.

Non-Profits 52

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PYMNTS

JULY 11, 2016

SMEs worry about unpaid invoices , a figure released by small business accounting firm Xero last week suggests. While B2B payments practices may be improving , they’re not yet where business owners might like them to be. ” Small businesses have increased hiring for 5 months in a row , found CBIZ.

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Snyder

AUGUST 14, 2022

One of the main reasons to choose Amazon as a platform for your business is the unlimited profit potential: you can grow as much as you wish. On the other hand, breaking Amazon’s selling policies may lead to serious consequences, such as shutting your account down or Amazon’s withdrawal of your money, so you should always stay honest.

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LyfeAccounting

OCTOBER 18, 2020

Is it a horror story or one where the main character is triumphant? Here are 15 reasons: 15 Reasons Why Bookkeeping is Important for Businesses. Bookkeeping is important because it allows you to take control of your business’ finances. The question is this: What story is your bookkeeping telling you?

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LyfeAccounting

NOVEMBER 17, 2020

It is not meant to take the place of legal and accounting advice specific to your business. There are 2 main income taxes you pay – federal and state taxes. There are 3 main types of payroll taxes – withholding taxes, FICA taxes, and FUTA taxes. I’m also going to give you some tips to help you in your journey.

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LyfeAccounting

JULY 3, 2021

But the main point here is you need to make sure you actually have enough people required to start your nonprofit. Another important side note is that whoever is filing these forms must have a registered account with the IRS. So in Georgia, you need 3 people, and in California, you need 6 people. Registered agent.

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LyfeAccounting

JUNE 13, 2021

But, we haven’t seen many people talk about how to handle inflation as a business owner. Of course, inflation can absolutely destroy a business, reduce cash flow, and stagnant growth. Which is the main reason you see investors starting to worry and pull back in the stock market. Or, schedule a meeting with us today!

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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. Just keep in mind that though the IRS can help clear up your questions, their main job is to collect taxes on behalf of the US government. Tip #2: Don’t miss the deadline to respond.

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Ronika Khanna CPA,CA

DECEMBER 3, 2021

The portable scanner comes in handy when the small business owner is away from his office at a trade show or at a client and needs access to documents (eg. accountants who don’t want to have to schlep a sheaf of documents after visiting clients). QuickBooks online is the world’s most popular small business accounting software.

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LyfeAccounting

JULY 8, 2021

In fact, when we started our first business, the only money one of our founders had was a $250 deposit into a business checking account. It was just a deposit he had to make to ensure the account would get opened without incurring fees. And then, start working on your business right away. So what’s next?

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PYMNTS

FEBRUARY 27, 2018

For franchise owners, financial data isn’t just stored across systems; it’s stored across various business locations, making financial analysis even more difficult. Franchisees often have multiple business locations, so it’s hard to keep track of the cash in your bank,“ he said. In the U.S.,

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LyfeAccounting

FEBRUARY 24, 2021

If you paid points on your mortgage, there’s a good chance they are fully deductible in the year they were paid, if the mortgage is for your main home. The post Best Tax Breaks: 12 Most-Overlooked Tax Breaks & Deductions (2021) appeared first on Small Business Accounting & Finance Blog.

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LyfeAccounting

OCTOBER 15, 2020

When Warren Buffet famously says, “accounting is the language of business”, this is what I believe he’s referring to. By understanding your numbers, and I mean, REALLY understanding your numbers, you can make great decisions to grow your business. Most businesses try to have at least 3-6 months of expenses in operating cash.

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LyfeAccounting

JULY 7, 2021

And there you have it, folks – those are 2 main ways you can pay less in property taxes. The post How to Pay Less in Property Taxes | Property Tax Reduction Explained by CPA appeared first on Small Business Accounting & Finance Blog. And then boom, once your application is submitted, your work is done.

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LyfeAccounting

MARCH 25, 2021

As an accounting firm, we get asked all the time. “What should my business entity be? Because you can still prove your business concept while being a sole proprietor or partnership. Imagine for a second, you are networking event and you meet an investor who can help grow your business. Let’s get into it!

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