article thumbnail

New Sole Proprietors, LLCs, and Corporations Need Accounting and Tax Services

MyIRSRelief

If you’re new to business, you may be wondering why accounting and bookkeeping are so important. You don’t have a lot of money to spend on accounting and tax services. The truth is, accounting, taxes and bookkeeping are essential for all businesses, regardless of size or age. To secure funding.

article thumbnail

The Importance of a Month-End Close Process

Withum

This is important for several reasons: Proper classification of activity will make the monthly financial statements as accurate as possible when being used to assess operating results. Having up-to-date account balances summarized on the financial statements can indicate to management if there is adequate cash to cover future needs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Equity Compensation: Incentivizing Talent and Preserving Cash for Startups

Withum

A startup must communicate this, as it can potentially result in tax consequences for the individual(s), and they should seek a personal tax professional for additional guidance. Taxability of Stock-Based Compensation The tax treatment of stock-based compensation varies depending on the type of equity award granted.

article thumbnail

Tips for Startup Accounting

Withum

As your business grows, you want to focus on continuing your growth and serving clients while having solid financial management in place. This is where outsourced accounting systems and services (OASyS) and CFO Support Services come in. Benefits of Outsourced Accounting and Finance Services.

Account 122
article thumbnail

The Secret to a No-Sweat Compliance Audit is an Outsourced CFO

inDinero Accounting

Undoubtedly, during an audit, you will discover areas of improvement and make changes to improve efficiency in accounting and ensure compliance. When you are an inDinero customer, your fractional CFO brings with them bookkeeping, accounting, and tax services. CFO role during a financial audit.

audit 52