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Do I Need an Accountant for My Small Business?

MazumaBusinessAccounting

Why do I need an accountant for my small business? Those that do their taxes for themselves may think nothing of taking on this huge responsibility as a small business owner. The truth is that small mistakes in your finances may cost you a lot in the long run.

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Best Accounting Blogs: Finding a Great Blog for Accountants

Snyder

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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SEP IRA Explained: Huge Tax Savings for Self-Employed Individuals!

LyfeAccounting

The SEP IRA allows business owners to deduct up to $58,000 and put that money towards retirement. This is thousands of dollars more than the $6,000 contribution limit that a standard traditional or Roth IRA account allows you to deduct. While other IRA options do allow you to take loans from your account, a SEP IRA does not.

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EIDL Loan Increase Update: New Email From SBA on How To Get Approved – 150k to 500k

LyfeAccounting

This is especially true for small and start-up companies. So, if you need more guidance with your businessfinances, here at LYFE Accounting, we offer financial advisory services as well. Talk to us today to get started!

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Top 5 Write Offs for New LLCs in 2021

LyfeAccounting

Start-up and Organizational Costs. When you first start your LLC, there’s a pretty good chance you had some initial investment costs in things like computers, equipment, R&D. You’re able to deduct up to $5,000 in start-up costs in the first year you open your business.

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Inflation Tax: The Hidden Threat to Your Money in 2021

LyfeAccounting

Now what’s interesting is that most of the free money started hitting people’s accounts in May. So now let’s talk about the things you can do to avoid an inflation tax if you have a business. 5 Tips That Businesses Can Do to Avoid Inflation Tax. So of course, you need cash as a business.

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Starting an eCommerce Business? Bookkeeping Basics You Need to Know

xendoo

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.